LON (98/869)

No. 15,958

Decision given 26 February 1999.

Supply – Consideration – Vouchers supplied entitling bearer to reduction in price on certain retail sales – Whether vouchers entitled bearer to supplies of goods or services – Whether vouchers constituted part-payment or merely entitled bearer to discount – Whether consideration on sale of vouchers to be disregarded for tax purposes – Whether vouchers security for payment – Value Added Tax Act 1994, Sch. 6, para. 5 and Sch. 9, Grp. 5, items 1 and 5; Directive 77/388, the sixth VAT directive, art. 11(A)(1)(a) and (3)(b) and art. 13(B)(d)(5).

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