The 1999 Budget also introduced an exemption for supplies of investment gold. Landlords are able unilaterally to elect to waive exemption on most non-domestic land and buildings. Anti-avoidance measures exist which are designed to disapply the election to waive exemption on certain types of supplies of land and property where the land or property is being put to a partly or wholly exempt use. It is usually necessary to attribute input tax directly to taxable and exempt or other non-taxable supplies as far as possible. The standard method of attributing any remaining input tax is to apply the ratio of taxable supplies to total supplies, subject to the exclusion of certain items which could prove distortive.
Similar rules apply in other member states.
Most UK businesses involved in trade with other member states of the EU must also submit detailed statistical returns of their exports and imports of goods. Once all import formalities have been complied with and all duties due have been paid, goods may move freely within the EU without further duty falling due. Both the Isle of Man and the Channel Islands are within the EU customs territory. Duty is normally due as a percentage of the value of the goods. The valuation rules are set out in a World Trade Organisation agreement, to which most of the world's trading nations subscribe.