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HMRC internal manual

VAT Finance Manual

Financial derivatives: purpose of VATFIN6000

VATFIN6000 provides guidance on the types of supplies made by businesses involved in trading currencies or financial instruments (e.g. securities) and their derivatives.

You should read this section in conjunction with section 8 of VAT Notice 701/49 Finance.

The trading of gold is covered in VGOLD.

The trading of non financial commodities (e.g. raw materials, emissions allowances), their derivatives, and commodities traded on a terminal market are covered in VAT Notice 701/9 Commodities and terminal markets.

Topics not covered by these sections

Intermediary services for financial derivatives are covered in VAT Notice 701/49 Finance (paragraph 8.12), and not in this manual.