Part 1 U.K. Customs and Excise and Value Added Tax

Chapter II U.K. Value Added Tax

17 Valuation of supplies at less than market value. U.K.

(1) In Schedule 4 to the principal Act, at the beginning of paragraph 1(1)(c) there shall be inserted the words “if the supply is a taxable supply.”.

(2) This section shall have effect in relation to supplies made on or after 1st April 1987, and shall be deemed to have come into force on 23rd March 1987.