Statutory Instruments
VALUE ADDED TAX
Made
29th November 1989
Laid before the House of Commons
6th December 1989
Coming into force
1st January 1990
The Treasury, in exercise of the powers conferred on them by sections 17(2), 45(1) and 48(6) of the Value Added Tax Act 1983(1) and of all other powers enabling them in that behalf, hereby make the following Order:
1. This Order may be cited as the Value Added Tax (Finance, Health and Welfare) Order 1989 and shall come into force on 1st January 1990.
2.—(1) Group 5 (finance) of Schedule 6 to the Value Added Tax Act 1983(2) shall be varied in accordance with the following paragraphs of this article.
(2) For item 6A there shall be substituted the following item –
“6A. The making of arrangements for or the underwriting of any transaction within item 6.”.
(3) After item 7 there shall be added the following item –
“8. The management of an authorised unit trust scheme or of a trust based scheme by the operator of the scheme.”.
(4) After Note 4 there shall be added the following Notes –
“(5) Item 6A includes the introduction to a person effecting transactions in securities or secondary securities within item 6 of a person seeking to acquire or dispose of such securities.
(6) In item 8 –
(a)“authorised unit trust scheme” and “operator” have the same meanings as in section 207(1) of the Financial Services Act 1986(3);
(b)“trust based scheme” has the same meaning as in regulation 2(1)(b) of the Financial Services Act 1986 (Single Property Schemes) (Exemption) Regulations 1989(4).”.
3. Group 7 (health and welfare) of Schedule 6 to the Value Added Tax Act 1983(5)A relevant variation to Group 7 was made by S.I. 1985/1900. shall be varied by adding after item 10 the following item –
“11. The supply of transport services for sick or injured persons in vehicles specially designed for that purpose.”.
John Taylor
Tom Sackville
Two of the Lords Commissioners of Her Majesty’s Treasury
29th November 1989
(This note is not part of the Order)
This Order amends Groups 5 and 7 of Schedule 6 to the Value Added Tax Act 1983. It exempts from VAT the making of arrangements for or the underwriting of transactions in securities, the management of authorised unit trust schemes (including single property schemes) and the provision of private ambulance services. It implements the requirements of Article 1(1) of Council Directive 89/465/EEC (OJ No.L 226, 3.8.89, p.21).
Relevant variatios to Group 5 were made by section 18 of the Finance Act 1987 (c. 16) and S.I. 1987/860.
S.I. 1989/28.
A relevant variation to Group 7 was made by S.I. 1985/1900.