Acquisitions are valued on the same basis as supplies made in the UK (Directive 2006/112, art. 83; VATA 1994, s. 20; Notice 725, para. 8.1 (2016 edn)). See ¶14-200ff. for commentary on valuing supplies.

In valuing an acquisition, any excise duties, customs duties or agricultural levies payable on the removal of the goods to the UK are included.

In relation to the transfer of a taxpayer’s own goods from one member state to another, the charge is broadly based on the market value of the goods at the time of the transfer (VATA 1994, Sch. 7, para. 3).

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