http://www.legislation.gov.uk/ukpga/2000/17/section/13/2003-10-13Finance Act 2000An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.texttext/xmlenStatute Law Database2026-04-16Expert Participation2003-10-13 Part I Excise duties Tobacco products duty Basis of calculation of<Emphasis>ad valorem</Emphasis> element of duty on cigarettes.131Section 5 of the Tobacco Products Duty Act 1979 (retail price of cigarettes) is amended as follows.2In subsection (1) (meaning of retail price) for the words from “shall be taken to be" to the end substituteshall be taken to be— athe higher of—ithe recommended price for the sale by retail at that time in the United Kingdom of cigarettes of that description, andiiany (or, if more than one, the highest) retail price shown at that time on the packaging of the cigarettes in question,orbif there is no such price recommended or shown, the highest price at which cigarettes of that description are normally sold by retail at that time in the United Kingdom..3In subsection (3) (determination of price by Commissioners), for “paragraph (a) of subsection (1)" substitute “ paragraph (b) of subsection (1) ”.4In subsection (4) (reference to arbitration of Commissioners’ determination), for “subsection (1)(a)" substitute “ subsection (1)(b) ”.1979 c. 7.