Value Added Tax Act 1994 Schedule 9ZA paragraph 13

Meaning of "relevant transaction" and "relevant time"

Paragraph 13 defines two key terms — "relevant transaction" and "relevant time" — used throughout this Part of the Schedule when dealing with the acquisition of goods from a member State.

• A "relevant transaction" is the underlying transaction that leads to the acquisition of goods from a member State.
• The "relevant time" determines the point at which a particular acquisition is treated as taking place for VAT purposes.
• Where the acquirer is not a taxable person and no special regulatory timing rules apply, the relevant time is the moment the goods are first removed from the member State.
• In all other cases, the relevant time is simply the time of acquisition as normally determined under the VAT rules.