# The Value Added Tax (Investment Gold) Order 1999, Article 3: Election to waive exemption


(1) Subject to paragraphs (2), (6), (7) and (8) below, where an election under this paragraph has effect in relation to a relevant supply by a taxable person who produces or transforms investment gold, which supply would (apart from this paragraph) fall within item 1 or 2 of Group 15 of Schedule 9 to the Act, the supply shall not fall within that Group.
(2) An election under paragraph (1) above (or an election having the like effect) or an election under paragraph (5) below shall apply in respect of an individual relevant supply made and shall have effect on or after the day from which the election is made.
(3) Subject to complying with such conditions as the Commissioners may direct in notices published by them for the purposes of this Order, the Commissioners may permit a taxable person to make elections in respect of relevant supplies by him of a description falling within paragraph (4) below having the like effect to an election under paragraph (1) above.
(4) The supplies referred to in paragraph (3) above are those relevant supplies where the investment gold supplied falls within the description in Note (1)(a) contained in Group 15 of Schedule 9 to the Act, made by a taxable person who in the normal course of his business makes supplies of gold for industrial purposes.
(5) Subject to paragraphs (6) to (8) below, where a taxable person has made a relevant supply in respect of which an election under paragraph (1) above (or an election having the like effect) has been made, the supply of services by his agent directly linked to the relevant supply and which supply of services would (apart from this paragraph) fall within item 3 of Group 15 of Schedule 9 to the Act shall, if the agent so elects, not fall within that Group.
(6) A person making a relevant supply in respect of which an election to waive exemption under this article has been made shall comply with such conditions as the Commissioners may specify in notices published by them for the purposes of this Order including conditions relating to the notification of an election.
(7) An election made under paragraph (1) above (or an election having the like effect) and an election made under paragraph (5) above shall be irrevocable.
(8) Where the Commissioners have permitted a person to make elections under paragraph (3) above, they may withdraw that permission where it appears to them to be necessary to do so for the protection of the revenue and accordingly the permission shall cease to have effect from such date as may be specified in a notification from the Commissioners.

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Source: https://www.legislation.gov.uk/uksi/1999/3116/article/3 (the official version)
Page: https://openlegislation.uk/value-added-tax-investment-gold-order-1999/article-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.