PART XIIVALUATION OF ACQUISITIONS

Valuation of acquisitionsI197

—

1

Subject to paragraph (2) below, the value of the relevant transaction in relation to any goods acquired in the United Kingdom from another member State where—

a

the goods are charged in connection with their removal to the United Kingdom with a duty of excise; or

b

on that removal are subject, in accordance with any provision for the time being having effect for transitional purposes in connection with the accession of any State to the F1European Union, to any F1EU customs duty or agricultural levy of the F1European Union,

shall be taken, for the purposes of the Act, to be the sum of its value apart from paragraph 2 of Schedule 7 to the Act and the amount, so far as not already included in that value, of the excise duty, F1EU customs duty or, as the case may be, agricultural levy which has been or is to be paid in respect of those goods.

2

Paragraph (1) above does not apply to a transaction in pursuance of which there is an acquisition of goods which, under subsection (4) of section 18 of the Act, is treated as taking place before the duty point within the meaning of that section.