# The Value Added Tax (Business Gifts of Small Value) Order 2001, Note: Explanatory note


(This note is not part of the Order)
This Order, which comes into force on 8th March 2001, amends paragraphs 5(2)(a) of Schedule 4 to the Value Added Tax Act 1994.
Subject to certain exceptions, the gifting of assets of a business constitutes a supply of goods for VAT purposes. One of the exceptions is where the cost to the donor of the gift is not more than a certain amount. This Order increases that amount from £15 to £50.

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Source: https://www.legislation.gov.uk/uksi/2001/735/note (the official version)
Page: https://openlegislation.uk/value-added-tax-business-gifts-of-small-value-order-2001/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.