The Value Added Tax (Finance) Order 1999

6.  After Note (2) there shall be inserted—

“(2A) This Group does not include a supply of services comprising the management of credit, other than such a supply made by the person granting the credit.

(2B) For the purposes of this Group a person makes “a supply of services comprising the management of credit” if he performs any one or more of the following in relation to a credit, a credit card, a chargecard or a similar payment card, operation—

(a) credit checking;

(b) valuation;

(c) authorisation services;

(d) taking decisions relating to a grant or an application for a grant of credit;

(e) creating and maintaining records relating to a grant or an application for a grant of credit on behalf of the credit provider; and

(f) monitoring a creditor’s payment record or dealing with overdue payments.”.