SCHEDULE 4 Matters to be Treated as Supply of Goods or Services
Value Added Tax Act 1994 (1994 c 23) | Legislation

SCHEDULE 4 Matters to be Treated as Supply of Goods or Services

Section 5

1

(1)     Any transfer of the whole property in goods is a supply of goods; but, subject to sub-paragraph (2) below, the transfer—

(a)     of any undivided share of the property, or

(b)     of the possession of goods,

is a supply of services.

(2)     If the possession of goods is transferred—

(a)     under an agreement for the sale of the goods, or

(b)     under agreements which expressly contemplate that the property also will pass at some time in the future (determined by, or ascertainable from, the agreements but in any case not later than when the goods are fully paid for),

it is then in either case a supply of the goods.

2

.Ìý.Ìý.

3

The supply of any form of power, heat, refrigeration [or other cooling,] or ventilation is a supply of goods.

4

The grant, assignment or surrender of a major interest in land is a supply of goods.

5

(1)     Subject to sub-paragraph (2) below, where goods forming part of the assets of a business are transferred or disposed of by or under

Powered by Lexis+®
 

Popular documents

LEXISNEXIS

Pension commencement lump sums (PCLSs)

Pension commencement lump sums (PCLSs)When a member of a pension scheme becomes entitled to receive their scheme benefits, they can usually take part as a tax-free lump sum. HMRC calls this a ‘pension commencement lump sum’ (PCLS). Taking a lump sum is usually at the option of the member who will

LEXISNEXIS

Escrow accounts and escrow agreements

Escrow accounts and escrow agreementsThis Practice Note examines why parties involved in a construction project may enter into an escrow agreement (or escrow deed) to set up an escrow account. It looks at the benefits of paying funds into escrow, how an escrow account operates and the provisions

LEXISNEXIS

Carriage of goods by sea—the Hague-Visby Rules

Carriage of goods by sea—the Hague-Visby RulesThis Practice Note explains the Hague-Visby Rules (the Rules) which are an international convention enacted into English law by the Carriage of Goods by Sea Act 1971 (CGSA 1971) whose purpose is to regulate some of the most important rights and

LEXISNEXIS

Defects liability period and rectification of defects

Defects liability period and rectification of defectsIt is common in construction projects for defects to manifest or appear in the works. Most construction contracts require the contractor to return to site to rectify (also known as ‘make good’) defects which arise or are discovered during a