43A Vouchers — Multi-purpose and single — purpose, etc.—

(1) In this section—

“multi-purpose voucher” means a voucher other than a single-purpose voucher;

“single-purpose voucher” means a voucher where the place of supply of the goods or the services to which the voucher relates, and the tax due on those goods or services, are known at the time of issue of the voucher;

“voucher” means an instrument, whether in an electronic or physical format, where there is an obligation to accept it as consideration or part consideration for a supply of goods or services and where the goods or services to be supplied or the identities of their potential suppliers are either indicated on the instrument itself or in related documentation, including the terms and conditions of use of such instruments.

(2) (a) The actual handing over of goods or the actual provision of services in return for a multi-purpose voucher, accepted as consideration or part consideration by a supplier shall be a supply, but each preceding transfer of that multi-purpose voucher shall be disregarded for the purposes of this Act.

(b) Where a multi-purpose voucher is issued or transferred by a taxable person, other than the taxable person carrying out the supply as set out in paragraph (a), the supply of additional services, insofar as they can be identified, shall be subject to tax.

(3) The taxable amount of the supply of goods or services provided in respect of a multi-purpose voucher shall be deemed to be equal to the consideration paid for the voucher or, in the absence of information on that consideration, the monetary value indicated on or within the multi-purpose voucher or in the related documentation, less the amount of tax relating to the goods or services supplied.

(4) (a) Each transfer of a single-purpose voucher made by a taxable person acting in his or her own name shall be regarded as a supply of goods or services to which the voucher relates and shall be subject to tax.

(b) Where a transfer of a single-purpose voucher is made by a taxable person acting in the name of another person, that transfer shall be regarded as a supply of goods or services made by that other person in whose name the taxable person is acting.

(c) Where the supplier of goods or services is not the taxable person who, acting in his or her own name, issued the single-purpose voucher, that supplier shall be deemed to have made that supply of the goods or services related to that voucher to that taxable person.

(d) The actual handing over of the goods or the actual provision of the services in return for a single-purpose voucher accepted as consideration or part consideration by the supplier shall not be regarded as an independent transaction and shall not be subject to tax.

(5) Where a supplier sells a single-purpose voucher to a buyer at a discount and promises to subsequently accept that voucher at its face value in full or part payment of the price of the goods or services purchased by a customer who was not the buyer of the voucher, and who does not normally know the actual price at which the voucher was sold by the supplier, the consideration represented by the voucher shall, subject to regulations (if any), be the sum actually received by the supplier on the sale of the voucher.

(6) This section shall apply to a single-purpose voucher or a multi-purpose voucher issued on or after 1 January 2019.