Paragraph 3 F1
United Kingdom
Where goods are acquired from another member State in pursuance of anything which is treated as a supply for the purposes of this Act by virtue of paragraph 5(1) or 5A of Schedule 2 to this Act, the value of the relevant transaction shall be determined, in a case where there is no consideration, as follows.
The value of the transaction shall be taken to be—
such consideration in money as would be payable by the supplier if he were, at the time of the acquisition, to purchase goods identical in every respect (including age and condition) to the goods concerned; or
where the value cannot be ascertained in accordance with paragraph (a) above, such consideration in money as would be payable by the supplier if he were, at that time, to purchase goods similar to, and of the same age and condition as, the goods concerned; or
where the value can be ascertained in accordance with neither paragraph (a) nor paragraph (b) above, the cost of producing the goods concerned if they were produced at that time.
For the purposes of sub-paragraph (2) above the amount of consideration in money that would be payable by any person if he were to purchase any goods shall be taken to be the amount that would be so payable after the deduction of any amount included in the purchase price in respect of value added tax on the supply of the goods to that person.
Annotations
Textual amendments
- F1
Sch. 4A inserted (1.12.1992 to extent mentioned in S.I. 1992/2979 art. 4 and 1.1.1993 insofar as not then already in force) by Finance (No. 2) Act 1992 (c. 48), s. 14(2), Sch. 3 Pt. I para.62; S.I. 1992/2979, art. 4, Sch. Pt.II (with art. 5); S.I. 1992/3261, art. 3,Sch. (with art. 4)
Notes on the whole Act
Textual amendments
- F1
Act repealed (1.9.1994) by 1994 c. 23, ss. 100(2), 101(2), Sch. 15 (with Sch. 13 paras. 2, 6, 9)
Notes on Schedule 4A
Textual amendments
- F1
Sch. 4A inserted (1.12.1992 to extent mentioned in S.I. 1992/2979 art. 4 and 1.1.1993 insofar as not then already in force) by Finance (No. 2) Act 1992 (c. 48), s. 14(2), Sch.3 Pt. I para. 62; S.I. 1992/2979, art. 4, Sch. Pt.II (with art. 5); S.I. 1992/3261, art. 3,Sch. (with art. 4)