OpenLegislation

Regulation 3 Meaning of value of CBAM goodsI1

United Kingdom Not yet in force

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

For the purposes of Part 2 of Schedule 17, the value of a CBAM goodf1 is to be determined in accordance with this regulation, and references to the value of a CBAM good in regulations 5 and 7 are to be construed accordingly.

(2)

In the case of a CBAM good which is described in section 144(2) or (3), the value of that CBAM good is the same as the value determined for customs purposes in accordance with Part 12 of the Customs (Import Duty) (EU Exit) Regulations 2018f2.

(3)

In the case of a CBAM good which is described in the following subsections of section 144—

(a)

subsection (5)(b), but only in a case where the import results from entry into Great Britain from the Isle of Man,

(b)

subsection (5)(c),

(c)

subsection (5)(d), or

(d)

subsection (6),

the value of that CBAM good is to be determined in accordance with Part 12 of the Customs (Import Duty) (EU Exit) Regulations 2018, as if the CBAM good is a chargeable good, and has been presented to Customs on import, for the purposes of Part 1 of TCTA 2018f3.

(4)

In the case of a CBAM good which is described in the following subsections of section 144—

(a)

subsection (4), but only in cases where that good is not taken out of the charge to duty under section 30A(3) or 40A(1)(a) of TCTA 2018 by regulations made under section 30B(1)(a) or 40B(1)(a) of that Actf4, or

(b)

subsection (5)(b), but only in cases where the import results from entry into Northern Ireland from the Isle of Man,

the value of that CBAM good is the same as the value of those goods determined for customs purposes in accordance with Chapter 3 of Title II of UCC 2013f5.

(5)

In the case of a CBAM good which is described in the following subsections of section 144—

(a)

subsection (4), but only in cases where that good is taken out of the charge to duty under section 30A(3) or 40A(1)(a) of TCTA 2018 by regulations made under section 30B(1)(a) or 40B(1)(a) of that Act, or

(b)

subsection (5)(a),

the value of the CBAM good is to be determined in accordance with Chapter 3 of Title II of UCC 2013.

(6)

For the purposes of a determination under the applied legislation referred to in paragraph (5), the CBAM good is to be treated as if it—

(a)

is a chargeable good for the purposes of Part 1 of TCTA 2018, and

(b)

has been brought into the customs territory of the European Union.

(7)

For the purposes of a valuation under the applied legislation referred to in paragraphs (3) to (5), goods that are expected to be imported for the purposes of paragraph 2(2)(b) of Schedule 17 are to be treated as imported goods.

(8)

In paragraph (3), “presented to Customs on import” has the meaning given by section 34 of TCTA 2018.

Annotations

Commencement

I1

Reg. 3 in force at 1.1.2027, see reg. 1(2)

Footnotes

f1

“CBAM good” has the meaning given by section 155(1) of FA 2026.

f2

S.I. 2018/1248. Regulation 108 was amended by regulation 4(10) of S.I. 2025/745.

f3

“TCTA 2018” has the meaning given by section 281 of FA 2026.

f4

Sections 30A, 30B, 40A and 40B were inserted by sections 1 and 2(4) of the Taxation (Post-transition Period) Act 2020 (c. 26).

f5

“UCC 2013” has the meaning given by section 155(1) of FA 2026.