The Value Added Tax Regulations 1995 No. 2518

[F1 PART 15A U.K. GOODS USED FOR NON-BUSINESS PURPOSES DURING THEIR ECONOMIC LIFE

Textual Amendments

F1 Pt. 15A inserted (1.11.2007) by The Value Added Tax (Amendment) (No. 7) Regulations 2007 (S.I. 2007/3099), regs. 1(2)(b), 4

Value of relevant supplies made during a new economic life U.K.

116H.   Subject to regulation 116I, the calculation of the value of a relevant supply made during a new economic life in accordance with the formula in regulation 116E is varied so that

• C is the increase in the full cost of the goods resulting from the supply of the goods or services giving rise to the new economic life; and

• U% is the extent, expressed as a percentage, to which the goods are put to any private use or used, or made available for use, for non-business purposes as compared with the total use made of the goods during the part of the prescribed accounting period occurring during the new economic life of the goods.]