The Value Added Tax (Finance) Order 2008
| Jurisdiction | UK Non-devolved |
| Citation | SI 2008/1892 |
| Year | 2008 |
2008 No. 1892
Value Added Tax
The Value Added Tax (Finance) Order 2008
Made 17th July 2008
Laid before the House of Commons 17th July 2008
Coming into force 1st October 2008
The Treasury, in exercise of the powers conferred by sections 31(2) and 96(9) of the Value Added Tax Act 19941, make the following Order.
Citation and commencement
1. This Order may be cited as the Value Added Tax (Finance) Order 2008, and shall come into force on 1st October 2008.
Variation to Group 5 of Schedule 9 to the Value Added Tax Act 1994
2.—(1) Group 52of Schedule 9 to the Value Added Tax Act 1994 is varied as follows.
(2) For Item 9 substitute—
“9. The management of—
(a) an authorised open-ended investment company; or
(b) an authorised unit trust scheme; or
(c) a Gibraltar collective investment scheme; or
(d) an individually recognised overseas scheme; or
(e) a recognised collective investment scheme authorised in a designated country or territory; or
(f) a recognised collective investment scheme constituted in another EEA state3.”.
(3) For Item 10 substitute—
“10. The management of a closed-ended collective investment undertaking.”.
(4) For Note (6) substitute—
“6 For the purposes of this Group—
“authorised open-ended investment company” and “authorised unit trust scheme” have the meaning given in section 237(3) of the Financial Services and Markets Act 20004;
“closed-ended collective investment undertaking” means an undertaking in relation to which the following conditions are satisfied—
(a) its sole object is the investment of capital, raised from the public, wholly or mainly in securities; and
(b) it manages its assets on the principle of spreading investment risk; and
(c) all of its ordinary shares (of each class if there is more than one) or equivalent units are included in the official list maintained by the Financial Services Authority pursuant to section 74(1) of the Financial Services and Markets Act 2000; and
(d) all of its ordinary shares (of each class if there is more than one) or equivalent units are admitted to trading on a regulated market situated or operating in the United Kingdom;
“Gibraltar collective investment scheme” means—
(a) a collective investment scheme to which section 264 of the Financial Services and Markets Act 2000 applies pursuant to an order made under section 409(1)(d) of that Act; or
(b) a collective investment scheme to which the Financial Services and Markets Act 2000 applies pursuant to an order made under section 409(1)(f)...
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