{
  "url": "https://openlegislation.uk/customs-import-duty-eu-exit-regulations-2018/regulation-122",
  "json_url": "https://openlegislation.uk/customs-import-duty-eu-exit-regulations-2018/regulation-122.json",
  "legislation": "uksi/2018/1248",
  "legislation_title": "The Customs (Import Duty) (EU Exit) Regulations 2018",
  "legislation_url": "https://openlegislation.uk/customs-import-duty-eu-exit-regulations-2018",
  "path": "regulation/122",
  "kind": "regulation",
  "number": "122",
  "heading": "Method 2 and Method 3 valuation: identification of transaction values",
  "text": "(1) The identification of the transaction value of identical goods or similar goods—\n(a) sold for export to the United Kingdom; and\n(b) imported into the United Kingdom at the time of, or within such period as an HMRC officer considers reasonable of, the importation of the chargeable goods into the United Kingdom,\nmust be based on a sale of such goods which satisfies paragraph (1A).\n(1A) To satisfy this paragraph, a sale of goods must be—\n(a) by—\n(i) the seller of the chargeable goods; or\n(ii) where no such sale takes place by that seller at the time of, or within such period as an HMRC officer considers reasonable of, the importation of the chargeable goods into the United Kingdom, a seller who is in the equivalent position in the supply chain to the seller of the chargeable goods;\n(b) to—\n(i) the buyer of the chargeable goods; or\n(ii) where no such sale takes place to that buyer at the time of, or within such period as an HMRC officer considers reasonable of, the importation of the chargeable goods into the United Kingdom, a buyer who is in an equivalent position in the supply chain to the buyer of the chargeable goods; and\n(c) of an equivalent quantity of goods as the sale of the chargeable goods.\n(2) If more than one such sale is identified, the sale which produces the lower or lowest valuation is the transaction value to be applied.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Reg. 122(1) substituted (16.7.2025) by The Customs (Miscellaneous Amendments) Regulations 2025 (S.I. 2025/745), regs. 1(1), 4(17)(a)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Reg. 122(1A) inserted (16.7.2025) by The Customs (Miscellaneous Amendments) Regulations 2025 (S.I. 2025/745), regs. 1(1), 4(17)(b)"
    },
    {
      "type": "C",
      "label": "C1",
      "text": "Pt. 12 applied (with modifications) (31.12.2020) by The Customs (Northern Ireland) (EU Exit) Regulations 2020 (S.I. 2020/1605), regs. 1(1), 32; S.I. 2020/1643, reg. 2, Sch."
    },
    {
      "type": "I",
      "label": "I1",
      "text": "Reg. 122 in force at 31.12.2020 by S.I. 2020/1643, reg. 2, Sch."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2018/1248/regulation/122",
    "retrieved_at": "2026-10-28T22:51:35.418231+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}