½Û×ÓÊÓƵ

Supplies made for a consideration—UK legislation

The value of a supply made for a consideration under UK legislation is generally determined in accordance with VATA 1994, s 19 and will normally depend on whether the supply is made for consideration which is wholly in money¹.

The UK legislation was derived from Archived Directive 2006/112/EC (that is, the VAT Directive as it stood at IP completion day². In particular, the Directive provides that the 'taxable amount' (ie value) of a supply of goods or services is everything that constitutes the consideration obtained, or to be obtained, by the supplier in return for the supply from the customer or a third party³ including⁴:

1. Ìý

   •ÌýÌýÌýÌý subsidies directly linked to the price of the supply (see V3.153)

2. Ìý

   •ÌýÌýÌýÌý taxes, duties, levies and charges (excluding the VAT itself) (see V3.154), and

3. Ìý

   •ÌýÌýÌýÌý incidental