# Finance (No. 2) Act 1992, Paragraph 12

Extent: E+W+S+N.I.

(1) In subsection (1) of section 10 (value of supply of goods or services), for “shall be determined as follows" there shall be substituted “ shall, except as otherwise provided by or under this Act, be determined in accordance with this section and Schedule 4 to this Act, and for those purposes subsections (2) to (4) below have effect subject to that Schedule ”.
(2) For subsection (3) of that section (value where supply for no consideration or for consideration not or not wholly in money) there shall be substituted the following subsection—
“(3) If the supply is for a consideration not consisting or not wholly consisting of money, its value shall be taken to be such amount in money as, with the addition of the tax chargeable, is equivalent to the consideration.”

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Source: https://www.legislation.gov.uk/ukpga/1992/48/schedule/3/paragraph/12 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-1992/schedule-3/paragraph-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.