[F14(1)Sub-paragraph (2) applies where—U.K.
(a)goods or services are supplied for a consideration which is a price in money,
(b)the terms on which those goods or services are so supplied allow a discount for prompt payment of that price,
(c)payment of that price is not made by instalments, and
(d)payment of that price is made in accordance with those terms so that the discount is realised in relation to that payment.
(2)For the purposes of section 19 (value of supply of goods or services) the consideration is the discounted price paid.]
Textual Amendments
F1Sch. 6 para. 4 substituted (with effect in accordance with s. 108(2)-(4) of the amending Act) by Finance Act 2014 (c. 26), s. 108(1)