SCHEDULES
SCHEDULE 6 Valuation: special cases
F2Part 2 Other Provisions
Annotations:
Amendments (Textual)
F111A
1
Sub-paragraph (2) applies to goods that—
a
fall within subsection (5) of section 21 (works of art etc), and
b
are treated as supplied in the United Kingdom as a result of section 7(5B) (importation of consignments with an intrinsic value not exceeding £135).
2
The value of a supply of goods to which this sub-paragraph applies is to be taken to be an amount equal to 25% of the amount that, apart from this sub-paragraph, would be its value for the purposes of this Act.
3
An order under section 2(2) may contain provision making such alteration of the percentage for the time being specified in sub-paragraph (2) as the Treasury consider appropriate in consequence of any increase or decrease by that order of the rate of VAT.
Sch. 6 renumbered as Sch. 6 Pt. 2 (with effect in accordance with Sch. 38 para. 7(1) of the amending Act) by Finance Act 2013 (c. 29), Sch. 38 para. 2