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Home / De-Voil /Part V3 Supplies, acquisitions and imports /Division V3.1 Supplies /The value of supplies / V3.161 Open market value

If HMRC directs, a supply is valued at open market value, where:

  1. Ìý

    •ÌýÌýÌýÌý a supply is made to a connected person for a consideration in money, which is less than open market value, and, if the supply is a taxable supply, that person is not entitled under VATA 1994, ss 251, 26 to credit for all of the VAT charged2

  2. Ìý

    •ÌýÌýÌýÌý a supply is made to a tour operator by a connected person and the value of the supply is greater than its open market value3

  3. Ìý

    •ÌýÌýÌýÌý a 'stock in trade car' is supplied in certain circumstances for a consideration that is less than open market value4, or

  4. Ìý

    •

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