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VATA 1994, Sch 9, Group 5, Items 2, 2A and 5—scope of the exemption

Exemption is extended to¹:

1. Ìý

   (1)ÌýÌýÌýÌý the making of any advance

2. Ìý

   (2)ÌýÌýÌýÌý the granting of any credit

3. Ìý

   (3)ÌýÌýÌýÌý the management of credit by the person granting it, and

4. Ìý

   (4)ÌýÌýÌýÌý the provision of intermediary services in relation to the above by a person acting in an intermediary capacity

Item 2 applies to advances or grants of credit which do not fall within Item 3 (instalment credit finance) (see V4.136C). Thus it does not include the provision of finance under a hire purchase, conditional sale or credit sale agreement (for which see V4.136C). However, it does include 'the supply of credit by a person, in connection with a supply of goods or services by him, for which a separate charge is made and disclosed to the recipient of the supply of goods or services'². Thus it is not always clear whether a supply of