Schedule 6, Part 2, paragraph 11(1)

Subject to the following provisions of this paragraph, where— then, for the purpose of valuing the supply, that sum is to be converted into sterling at the market rate which, on the relevant day, would apply in the United Kingdom to a purchase with sterling by the person to whom they are supplied of that sum in the currency in question. there is a supply of goods or services; and any sum relevant for determining the value of the supply is expressed in a currency other than sterling,

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Source: legislation.gov.uk · retrieved 2026-07-28