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HMRC internal manual

VAT Valuation Manual

Updates: VAT Valuation Manual

2016

published amendments

Specific applications: Tenanted pubs: agreement with the Brewers’ Society about deduction of input tax in respect of brewers’ tenanted estate
Link to Notice 700/57 added.
Specific applications: Cover-mounted goods and promotional items in magazines
More changes to final paragraph.
Specific applications: contents
One of the titles has been amended.
Specific applications: apportionment and valuation of membership benefits: valuation of a "nomination right" supplied with shares, bonds or debentures
Final paragraph amended.
Non-monetary consideration: part exchange: bumping
Case of N&M Walkingshaw added to the text.

published amendments

Special valuation provisions: valuation of supplies expressed in foreign currencies - Paragraph 11, Schedule 6, VATA 1994
I have now tried to indent paragraph c but it doesn't look like it has completely worked. I spoke to Paul Smith at CDIO and he says a fix for this is coming up, he is not able to say when.
Specific applications: Opticians and sellers of hearing-aids: basis of apportionment
Minor text changes and link to VATVAL 12420 added.
Specific applications: Opticians and sellers of hearing-aids: background
Link added to VATVAL12420.

2017

published amendments

Transfer Pricing - VAT implications: exemptions to Transfer Pricing rules
Minor Typo corrected
Specific applications: Tenanted pubs: agreement with the Brewers’ Society about deduction of input tax in respect of brewers’ tenanted estate
Numbering on page sorted out.
Specific applications: Tour Operators and Travel Agents
"and Guidance V1-23 chapter 12" deleted. This should be added back in once the VATTOMS guidance has been updated.
Specific applications: Solicitors and other professionals: disbursements
Last sentence (with reference to 'netting off') deleted.
Specific applications: Record companies: promotional recordings - standard VAT values
link updated
Specific applications: motor dealers and manufacturers: guarantees
Detail on section to refer to
Specific applications: motor dealers and manufacturers: self-supply of motor cars: general
Broken links mended
Background: scope of this guidance
broken link mended
Specific applications: commissions
"And netting of" removed from the page title as requested by Ed Fosbrook.
Specific applications: caravans - removable contents: used caravans
Reference to a particular paragraph changed so hyperlink only refers to VAT Notice 701/20 as a whole.
Special valuation provisions: reduced - rate accommodation - Paragraph 9, Schedule 6, VATA 1994
One short paragraph deleted.
Special valuation provisions: other types of discount
Three sections deleted - One- Rentals of televisions and other Domestic Appliances, Two - Contingent rebates discounts and other delayed reductions of price, and Three - Effect of discounts when trader is subject to a Notice of Direction.
Special valuation provisions: imports - Paragraph 3, Schedule 6, VATA 1994
Name of team updated.
Special valuation provisions: direct selling - Paragraph 2, Schedule 6, VATA 1994
Bullet point "distortion of competition with traders using orthodox retail outlets" deleted from page.
Special valuation provisions: the procedure for issuing a Notice of Direction
Minor Typo corrected.

published amendments

Specific applications: motor dealers and manufacturers: “free” Mechanical Breakdown Insurance (MBI) or warranties
Unit of expertise link corrected

published amendments

Transfer Pricing - VAT implications: examples of particular situations where VAT may arise
link updated
Transfer Pricing - VAT implications: introduction
broken link updated

published amendments

Specific applications: caravans - removable contents: margin scheme
Changed to improve readability.
Specific applications: caravans - removable contents: used caravans
Changed to improve readability
Specific applications: caravans - removable contents: calculating the value of removable contents
Link inserted to VALVAL03400 and slight re-wording of last sentence.
Specific applications: Company vehicles used for private purposes
Sentence on home to workplace mileage has been removed and link given to VAT input tax manual instead.
Specific applications: Opticians and sellers of hearing-aids: basis of apportionment
New second paragraph inserted. Links added and grammar corrected.
Specific applications: Opticians and sellers of hearing-aids: background
Links added in, HMRC changed to HMCE if reference is pre-2005, date that policy was changed added
Specific applications: Cover-mounted goods and promotional items in magazines
Small changes removal of "you" should consider to It should be considered. " All" removed from " All questions on this subject .."
Specific applications: business gifts and samples: value of gifts that are taxable supplies
Links added to other pages of the guidance. Adjustment to sentence on gift of services to improve readability
Special valuation provisions: valuation of supplies expressed in foreign currencies - Paragraph 11, Schedule 6, VATA 1994
Minor changes to wording in section beginning Sub-section (2) to (6). For example VAT officer replaced by HMRC.
Non-monetary consideration: part exchange: bumping
Incorrect figure changed in example.

published amendments

Specific applications: caravans - removable contents: supplies associated with caravans
Legal reference changed

published amendments

Specific applications: Services incidental to supplies of goods: general
Page changed to link to notice 700/24 which was extensively re-written.
Specific applications: Cover-mounted goods and promotional items in magazines
Amendments to wording and link to supply team updated.

published amendments

Background: roles and responsibilities
Standardised page

published amendments

Special valuation provisions: prompt payment discounts - Paragraph 4, Schedule 6, VATA 1994
first publication of page

published amendments

Specific applications: Opticians and sellers of hearing-aids: basis of apportionment
re-published page
Specific applications: Opticians and sellers of hearing-aids: background
re-published page
Specific applications: Opticians and sellers of hearing-aids: contents
re-published page
Specific applications: caravans - removable contents: calculating the value of removable contents
page re-published
Specific applications: caravans - removable contents: contents
re-published contents page
Specific applications: caravans - removable contents: supplies associated with caravans
re-published page
Specific applications: business gifts and samples: contents
re-published
Specific applications: business gifts and samples: value of gifts that are taxable supplies
re-published page
Non-monetary consideration: part exchange: bumping
re-published
Non-monetary consideration: part exchange: contents
re-published contents page

published amendments

Specific applications: Opticians: Apportionment of charges for supplies of spectacles and dispensing: contents
removed references to business briefs
Specific applications: Opticians and sellers of hearing-aids: background
updated link to VATVAL12300
removed references to business brief 19/95 and VIS 8/99
Non-monetary consideration: part exchange: the value of a supply where payment has been made in full or in part by face value vouchers
removed reference to RCB 12/12