The Value Added Tax (Trading Stamps) Regulations 1995
These Regulations, which comes into force on the 1st June 1996, revoke Part X (Trading Stamps) (Regulations 76 to 80) of the Value Added Tax Regulations 1995 (S.I. 1995/2518) which make special provision for the valuation, for value added tax purposes, of goods supplied under trading stamps schemes. The revocation of the special rules will mean that trading stamps will receive the same VAT treatment as any other discount voucher, and will simplify the application of VAT law to promotion schemes involving trading stamps. The Value Added Tax (Treatment of Transactions) (No. 1) Order 1973 (S.I. 1973/325) which complements Part X of the Value Added Tax Regulations 1995 is revoked by the Value Added Tax (Treatment of Transactions) (Trading Stamps) Order 1995 (S.I. 1995/3042).