12 Works of art, antiques, etc
Finance Act 1999 (1999 c 16) | Legislation

Part II Value Added Tax

12  Works of art, antiques, etc

(1)     In subsection (4) of section 21 of the Value Added Tax Act 1994 (which treats as reduced for VAT purposes the value of goods falling within subsection (5) of that section and imported from outside the EU)—

(a)     at the beginning there shall be inserted “Subject to subsection (6D) below,”; and

(b)     for “14.29 per cent” there shall be substituted “28.58 per cent”.

(2)     For subsections (5) and (6) of that section there shall be substituted the following subsections—

“(5)     The goods that fall within this subsection are—

(a)     any work of art;

(b)     any antique, not falling within paragraph (a) above or (c) below, that is more than one hundred years old;

(c)     any collection or collector's piece that is of zoological, botanical, mineralogical, anatomical, historical, archaeological, palaeontological, ethnographic, numismatic or philatelic interest.

(6)     In this section “work of art” means, subject to subsections (6A) and (6B) below—

(a)     any mounted or unmounted painting, drawing, collage, decorative plaque or similar picture that was executed by hand;

(b)     any original engraving, lithograph or other print which—

(i)     was produced

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