Value Added Tax Act 1994 section 52

Trading stamp schemes

Section 52 gives HMRC the power to make regulations that change how the value of goods supplied under a trading stamp scheme is determined for VAT purposes.

• HMRC may make regulations to modify the normal VAT valuation rules (section 19 and Schedule 6) specifically for trading stamp scheme transactions.
• The regulations would replace the standard rules with an alternative method for determining the VAT value of goods supplied under such schemes.
• A trading stamp scheme is one falling within the definition in the Trading Stamps Act 1964 or the Trading Stamps Act (Northern Ireland) 1965.
• There are currently no regulations in force under this section.