Section 55(5)

References in this section to a supply of gold are references to— any supply of goods consisting in fine gold, in gold grain of any purity or in gold coins of any purity; or. . . any supply of goods containing gold where the consideration for the supply (apart from any VAT) is, or is equivalent to, an amount which does not exceed, or exceeds by no more than a negligible amount, the open market value of the gold contained in the goods ; or. any supply of services consisting in the application to another person’s goods of a treatment or process which produces goods a supply of which would fall within paragraph (a) above.

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Source: legislation.gov.uk · retrieved 2026-07-28