Article 7 Excepted suppliesI1

United Kingdom

For the purposes of section 55A of the Act a supply of a description specified below is an excepted supply—

(a)

a supply of specified goods where the value of the supply is less than £5000;

(b)

a supply of specified goods where the supply is of a description specified in an order made under section 50A^f1 of the Act (margin schemes) and, in accordance with such an order, the supplier opts to account for the VAT chargeable on the supply on the profit margin on the supply instead of by reference to its value;

(c)

a supply of a mobile telephone where, at the time a person enters into the agreement to purchase the telephone—

(i)

he enters into an agreement (including the renewal or extension of an existing agreement) with a provider of a public electronic communications service for the supply, in relation to that telephone, of such a service, and

(ii)

that agreement is not one that requires periodical pre-payments in order to use the service (“Pay as You Go”);

(d)

a transfer or disposal of specified goods for no consideration that is treated as a supply of goods by virtue of paragraph 5(1)^f2 of Schedule 4 to the Act.

Annotations

Commencement

I1: Art. 7 in force at 1.11.2010, see art. 1(2)

Footnotes

f1: Section 50A was amended by section 24(1) of the Finance Act 1995 (c. 4).
f2: Paragraph 5 of Schedule 4 was amended by section 33 of the Finance Act 1995 (c. 4), section 21 of the Finance Act 1998 (c. 36), section 33 of the Finance Act 1996 (c. 8), section 136 of the Finance Act 2000 (c. 17), sections 21 and 22 of the Finance Act 2003 (c.14), Section 99 and 114 of, and part 6(1) of Schedule 27 to, the Finance Act 2007 (c. 11).