VATFIN2280 - Money (including transfer of money) and related services: interpreting item 1: what is meant by 바카라 사이트˜dealing with바카라 사이트™
It is important to note that the law refers to dealing 바카라 사이트˜with바카라 사이트™ and not dealing 바카라 사이트˜in바카라 사이트™ money. In the case of Williams & Glyn바카라 사이트™s Bank Ltd (Tribunal decision 118) - see VATFIN2410 - the tribunal noted that these words, in the context of the purpose of Group 5, 바카라 사이트˜바카라 사이트¦ require the relevant services to have sufficient of the characteristics of a financial transaction or operation so as to be capable of being fairly so described.바카라 사이트™ A financial institution does not, for example 바카라 사이트˜deal in바카라 사이트™ guarantees.
Therefore, you need to distinguish between money (and other financial instruments) being dealt 바카라 사이트˜in바카라 사이트™ as physical goods (for example, a numismatic dealer or a security company stocking up ATMs) and money being dealt 바카라 사이트˜with바카라 사이트™ as a service (for example, a bank바카라 사이트™s over-the-counter foreign exchange service). The latter naturally falls within the exemption as financial in nature.
To deal with money as required under item 1, the business supplying the services will act as a principal, as in the foreign exchange example above. (Foreign exchange is further discussed in VATFIN2700).