- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Pwynt Penodol mewn Amser (01/01/1993)
- Gwreiddiol (Fel y'i Deddfwyd)
Version Superseded: 01/09/1994
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There are currently no known outstanding effects for the Value Added Tax Act 1983 (repealed 1.9.1994), Paragraph 7.
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7[F1(1)] Where there is a supply of goods by virtue of—
(a)a Treasury order under section 3(5) of this Act; or
(b)paragraph 5(1) [F2or 5A] of Schedule 2 to this Act (but otherwise than for a consideration); or
(c)paragraph 7 of that Schedule,
[F3then, except where paragraph 10 below applies, the value of the supply shall be determined as follows.
(2)The value of the supply shall be taken to be—
(a)such consideration in money as would be payable by the person making the supply if he were, at the time of the supply, to purchase goods identical in every respect (including age and condition) to the goods concerned; or
(b)where the value cannot be ascertained in accordance with paragraph (a) above, such consideration in money as would be payable by that person if he were, at that time, to purchase goods similar to, and of the same age and condition as, the goods concerned; or
(c)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.
(3)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.]
Textual Amendments
F1Word in Sch. 4 para. 7 inserted (1.8.1992) by Finance (No. 2) Act 1992 (c. 48), s. 14(2), Sch. 3 Pt. I para. 61(3)(a); S.I. 1992/1867, art. 3, Sch. Pt.I.
F2Word in Sch. 4 para. 7(1)(b) inserted (1.8.1992) by Finance (No. 2) Act 1992 (c. 48), s. 14(2), Sch. 3 Pt. I para. 61(3)(b); S.I. 1992/1867, art. 3, Sch. Pt.I.
F3Words and Sch. 4 para. 7(2)(3) substituted (1.8.1992) by Finance (No. 2) Act 1992 (c. 48), s. 14(2), Sch. 3 Pt. I para. 61(3)(c); S.I. 1992/1867, art. 3, Sch. Pt.I.
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