The Value Added Tax (Special Provisions) (Amendment) (No. 2) Order 1999

• Citation: S.I. 1999/3120
• Sections: 4

Section 1

This Order may be cited as the Value Added Tax (Special Provisions) (Amendment) (No. 2) Order 1999 and shall come into force on 1st January 2000.

Section 2

The Value Added Tax (Special Provisions) Order 1995 shall be amended as follows.

Section 3

In article 2:

(a) for the definition of “collectors' items” there shall be substituted–

“collectors' items” means any collection or collector’s piece falling within section 21(5) of the Act but excluding investment gold coins within the meaning of Note 1(b) and (c) to Group 15 of Schedule 9 to the Act;

(b) for the definition of “works of art” there shall be substituted–

“work of art” has the same meaning as in section 21 of the Act.

Section 4

For article 13(3) there shall be substituted–

(3) The total profit margin for a prescribed accounting period shall be the amount (if any) by which the total selling price calculated in accordance with paragraph (4) below, exceeds the total purchase price calculated in accordance with paragraph (5) below.