Section 33 | Small gifts.

(1)In Schedule 4 to the Value Added Tax Act 1994 (matters to be treated as supply of goods or services), in paragraph 5(2)(a) (gift of goods in the course or furtherance of a business not a supply if cost to donor is not more than £10), for “£10” there shall be substituted “ £15 ”.

(2)At the end of paragraph 5 of Schedule 4 to that Act there shall be inserted the following sub-paragraph—

(7)The Treasury may by order substitute for the sum for the time being specified in sub-paragraph (2)(a) above such sum, not being less than £10, as they think fit.

(3)In section 97(4) of that Act (orders which are subject to affirmative procedure), after paragraph (a) there shall be inserted the following paragraph—

(ab)an order under paragraph 5(7) of Schedule 4 substituting a lesser sum for the sum for the time being specified in paragraph 5(2)(a) of that Schedule;

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(4)Subsection (1) above shall apply where a gift is made after 28th November 1995.