# The Finance Act 2006, section 18, (Appointed Day) Order 2006, Note: Explanatory note


(This note is not part of the Order)
This Order appoints 1st September 2006 as the day on which sections 18(1) to 18(3) of the Finance Act 2006 (c. 25) come into force.
Their amendments to section 21 of the Value Added Tax Act 1994 (c. 23) (value of imported goods) mean that auctioneer’s commission or premium is excluded from the value of certain goods for subsequent import VAT purposes. Those goods are certain works of art, antiques, collections or collector’s pieces. This is only so if the goods are sold by auction while subject to the customs procedure for temporary importation with total relief from import duties.
A full regulatory impact assessment has not been produced for this instrument as it has no impact on the costs of business, charities or voluntary bodies.

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Source: https://www.legislation.gov.uk/uksi/2006/2149/note (the official version)
Page: https://openlegislation.uk/finance-act-2006-section-18-appointed-day-order-2006/note
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.