Commentary

BB/4A/03 VAT—face value vouchers—invoicing

Part V16 Forms and other HMRC material

BB/4A/03 VAT—face value vouchers—invoicing

BB/4A/03 VAT—face value vouchers—invoicing

Business Brief, Issue 4. 27 May 2003

VAT Information Sheet 3/03 (Division V16.5) gives guidance on the VAT treatment of face value vouchers (such as telephone cards and gift vouchers) following changes introduced in the Budget 2003.

This article gives further clarification on the invoicing arrangements between the issuers of face value vouchers and any intermediate suppliers.

Issuers of face value vouchers, which are not credit vouchers, who redeem them for goods or services will need to issue a full VAT invoice if the vouchers are sold to an intermediate supplier. As the issuer who redeems the voucher does

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