VATFIN4100 - Securities and related services: purpose of VATFIN4000

Introduction

VATFIN4000 provides guidance on the liability of transactions concerning securities. It covers the following:

Securities can take several forms, such as:

  • shares, stocks, bonds and notes (other than promissory notes), debentures, debenture stock, shares in an oil royalty
  • certificates of deposit
  • Treasury and government bills
  • letters of allotment and rights and options to acquire shares and
  • units in a unit trust.

The above list is not exhaustive.

Please note that authorised unit trusts (바카라 사이트˜AUTs바카라 사이트™), open-ended investment companies (바카라 사이트˜OEICs바카라 사이트™), personal equity plans (바카라 사이트˜PEPs바카라 사이트™), individual savings accounts (바카라 사이트˜ISAs바카라 사이트™) and child trust funds (바카라 사이트˜CTFs바카라 사이트™) and related services are dealt with in VATFIN5000 to VATFIN5700 of this chapter, and in paragraphs 7.2 and 7.3 of Notice 701/49 Finance.

For securities for money see VATFIN2800.

Topics not covered by VATFIN4000

The following topics are only covered in VAT Notice 701/49 Finance. You should read the relevant paragraphs for guidance on the liability of:

  • nominee services, see paragraph 6.5
  • custody services, see paragraph 6.6
  • services of a share registrar, see paragraph 6.7
  • arranging the issue or placement of securities, see paragraph 6.10
  • execution only services, see paragraph 6.11
  • dealer systems, see paragraph 6.12
  • specialist services such as valuation research and advisory services, see paragraph 6.14
  • international security transactions, see paragraph 6.15
  • the 바카라 사이트˜easement바카라 사이트™ rule where the place of supply can not be identified, see paragraph 6.16