# The Customs (Import Duty) (EU Exit) Regulations 2018, Regulation 114A: Transaction value: retrospectively adjusted amounts


(1) Paragraph (3) applies where—
(a) a seller makes an adjustment of the price actually paid or payable for the goods to the benefit of the buyer (“the adjustment”); and
(b) paragraph (2) applies to the adjustment.
(2) This paragraph applies to an adjustment where—
(a) the goods are defective at the time of acceptance of the Customs declaration for the free-circulation procedure;
(b) the seller makes the adjustment to compensate the buyer for the defect in order to fulfil, either—
(i) a contractual obligation entered into before the acceptance of the Customs declaration; or
(ii) a statutory obligation applicable to the goods; and
(c) the adjustment is made within the period of one year starting immediately after the date on which the Customs declaration is accepted for that procedure.
(3) The amount of import duty in respect of the adjustment is the amount which may be remitted or repaid.
(4) A case falling within paragraphs (1) and (2) is to be treated as a reduced duty case for the purposes of Part 7 of these Regulations.

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Source: https://www.legislation.gov.uk/uksi/2018/1248/regulation/114A (the official version)
Page: https://openlegislation.uk/customs-import-duty-eu-exit-regulations-2018/regulation-114A
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.