243. Exempt property.

Exempt property1 which is brought to, or received or used in, the United Kingdom by or for the benefit of a relevant person2 is treated as not remitted to the United Kingdom3.

Property is exempt property if it meets the public access rule4. Clothing, footwear, jewellery and watches are exempt property if they meet the personal use rule5. Property is exempt property if it meets the repair rule or the temporary importation rule, or if the notional remitted amount is less than £1,0006.

Property ceases to be exempt property:

  1.  

    (1)     where the whole or part of it is sold, or otherwise