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Changes over time for: Section 125
Llinell Amser Newidiadau
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Version Superseded: 22/04/2011
Status:
Point in time view as at 03/04/2006. This version of this provision has been superseded.
Status
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Changes to legislation:
Customs and Excise Management Act 1979, Section 125 is up to date with all changes known to be in force on or before 13 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
Changes to Legislation
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125 Valuation of goods for purpose of ad valorem duties.U.K.
(1)For the purposes of any duty for the time being chargeable on any imported goods by reference to their value (whether a Community customs duty or not), the value of the goods shall, subject to subsection (2) below, be taken according to the rules applicable in the case of Community customs duties, and duty shall be paid on that value.
(2)In relation to an importation in the course of trade within the Communities the value of any imported goods for the purposes mentioned in subsection (1) above shall be determined on the basis of a delivery to the buyer at the port or place of importation into the United Kingdom.
(3)The Commissioners may make regulations for the purpose of giving effect to the foregoing provisions of this section, and in particular for requiring any importer or other person concerned with the importation of goods—
(a)to furnish to the Commissioners in such form as they may require, such information as is in their opinion necessary for a proper valuation of the goods; and
(b)to produce any books of account or other documents of whatever nature relating to the purchase, importation or sale of the goods by that person.
(4)If any person contravenes or fails to comply with any regulation made under subsection (3) above he shall be liable on summary conviction to a penalty of [level 3 on the standard scale].
Textual Amendments
Modifications etc. (not altering text)
Yn ôl i’r brig