# The Value Added Tax (Disclosure of Avoidance Schemes) (Designations) (Amendment) Order 2005, Article 4: Designation of provision included in or associated with avoidance schemes


In Schedule 2 after paragraph 7 insert—
“Issue of face-value vouchers
8. (1) The issue of face-value vouchers for consideration.
(2) Paragraph 1 does not apply where—
(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
(b) the vouchers were issued to relevant persons.
(3) A relevant person is
(a) any person who is not connected with the issuer; or
(b) any body corporate—
(i) which is a member of the same VAT group as the issuer for the purposes of section 43 of the Act; and
(ii) which does not intend to supply the vouchers, directly or indirectly, to any person connected with the issuer outside that VAT group.
(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.”

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Source: https://www.legislation.gov.uk/uksi/2005/1724/article/4 (the official version)
Page: https://openlegislation.uk/value-added-tax-disclosure-of-avoidance-schemes-designations-amendment-order-2005/article-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.