Explanatory note

This Order amends Group 1 of Schedule 9 (Land) to the Value Added Tax Act 1994 with effect from 1 March 1995.

Group 1 of Schedule 9 exempts, with a number of exceptions, the grant of any interest in or right over land.

This Order provides a revised definition of grant which extends exemption to the surrender of an interest and also to reverse surrenders as defined in the new Note (1A) inserted by article 4.

The Order also makes consequential amendments to references to Notes which have become necessary by virtue of changes made to Schedules 8 and 10 to the Value Added Tax Act 1994 by other Orders.