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HMRC internal manual

VAT Finance Manual

Money (including transfer of money) and related services: interpreting Item 1: what is meant by ‘money‘

‘Money‘ comprises coins or banknotes, in sterling or any other currency, when supplied as legal tender in a financial transaction. For the purposes of this item, the term does not apply to numismatic or gold coins (although they may be covered by the investment gold exemption (VAT Notice 701/21 Gold and VAT Notice 701/21A Investment gold coins) or coins and banknotes, which are not legal tender.

Please note that under Council Regulation No 1777/2005, with effect from 1 July 2006 platinum nobles are also excluded.