{
  "url": "https://openlegislation.uk/value-added-tax-disclosure-of-avoidance-schemes-designations-amendment-order-2005/article-4",
  "json_url": "https://openlegislation.uk/value-added-tax-disclosure-of-avoidance-schemes-designations-amendment-order-2005/article-4.json",
  "legislation": "uksi/2005/1724",
  "legislation_title": "The Value Added Tax (Disclosure of Avoidance Schemes) (Designations) (Amendment) Order 2005",
  "legislation_url": "https://openlegislation.uk/value-added-tax-disclosure-of-avoidance-schemes-designations-amendment-order-2005",
  "path": "article/4",
  "kind": "article",
  "number": "4",
  "heading": "Designation of provision included in or associated with avoidance schemes",
  "text": "In Schedule 2 after paragraph 7 insert—\n“Issue of face-value vouchers\n8. (1) The issue of face-value vouchers for consideration.\n(2) Paragraph 1 does not apply where—\n(a) the issuer expects, on reasonable grounds, that at least 75% of the face-value of the vouchers will be redeemed within three years of the date on which the vouchers were issued; and\n(b) the vouchers were issued to relevant persons.\n(3) A relevant person is\n(a) any person who is not connected with the issuer; or\n(b) any body corporate—\n(i) which is a member of the same VAT group as the issuer for the purposes of section 43 of the Act; and\n(ii) which does not intend to supply the vouchers, directly or indirectly, to any person connected with the issuer outside that VAT group.\n(4) “Face-value vouchers” means tokens, stamps or vouchers of a description falling within paragraph 1(1) of Schedule 10A to the Act (face-value vouchers) and “face-value” has the meaning given by paragraph 1(2) of that Schedule.”",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "Schedule 10A was inserted by paragraph 2 of Schedule 1 to the Finance Act 2003 (c. 14)."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2005/1724/article/4",
    "retrieved_at": "2026-10-29T04:57:02.164716+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}