Commentary

BB/16B/05 VAT—amendment of law governing supplies of goods in customs warehouses

Part V16 Forms and other HMRC material

BB/16B/05 VAT—amendment of law governing supplies of goods in customs warehouses

BB/16B/05 VAT—amendment of law governing supplies of goods in customs warehouses

Business Brief, Issue 16. 19 August 2005

New rules to counter avoidance

Amendments to the rules governing the supply of goods in a customs warehouse will come into force on 1 September 2005. The new rules address an avoidance scheme in which the value for VAT could be manipulated by businesses selling goods for retail or selling goods to buyers for onward retail sale.

The new rules are targeted specifically at the perceived abuse and will mean that VAT-free trading is not available where retail goods are sold to, or are to

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