The Value Added Tax (Treatment of Transactions) (Trading Stamps) Order 1995

Made: 28th November 1995

Laid before the House of Commons: 28th November 1995

Coming into force: 1st June 1996

The Treasury, in exercise of the powers conferred on them by section 5(3) of the Value Added Tax Act 1994[^f00001] and of all other powers enabling them in that behalf, hereby make the following Order:

1

This Order may be cited as the Value Added Tax (Treatment of Transactions) (Trading Stamps) Order 1995 and shall come into force on 1st June 1996.

2

The Value Added Tax (Treatment of Transactions) (No. 1) Order 1973[^f00002] is hereby revoked.

Signed

Derek Conway — Simon Burns — Two of the Lords Commissioners of Her Majesty’s Treasury — 28th November 1995

Explanatory note

(This note is not part of the Order)

This Order, which comes into force on the 1st June 1996, revokes the Value Added Tax (Treatment of Transactions) (No.1) Order 1973 (S.I. 1973/325) which removes from the scope of value added tax certain supplies of trading stamps. The revocation of the special rules will mean that trading stamps will receive the same VAT treatment as any other discount voucher, and will simplify the application of VAT law to promotion schemes involving trading stamps. Part X (Trading Stamps) (Regulations 76 to 80) of the Value Added Tax Regulations 1995 (S.I. 1995/2518) which complements the Value Added Tax (Treatment of Transactions) (No.1) Order is revoked by the Value Added Tax (Trading Stamps) Regulations 1995 (S.I. 1995/3043).

Footnotes

[^f00001]: 1994 c. 23.

[^f00002]: S.I. 1973/325.