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HMRC internal manual

VAT Valuation Manual

Specific applications: caravans - removable contents: used caravans

There are two common alternatives. The elected method should be used consistently. 

  1. Actual values

This method requires a precise value for each of the standard-rated removable items. Documentary evidence must be available to support each valuation.

  1. Standard apportionment of values

This is a method that has been agreed with the National Caravan Council Ltd and the British Holiday and Home Parks Association Ltd. Under this agreement, the value of the standard-rated removable contents should be taken as 10% of the tax-exclusive selling price of the complete caravan.

An example of how to calculate the input tax element where a caravan is sold at a tax-inclusive price is given in Notice 701/20.