Margin Scheme News Today

The guide to VAT rules and procedures.

Find out about the VAT domestic reverse charge procedure which applies to the buying and selling of certain goods and services.

Find out how to fill in your VAT Return, about using VAT accounting schemes and how to submit your return electronically.

List of gold coins considered as investment gold coins for VAT exemption as detailed in Group 15 to Schedule 9 of the VAT Act 1994 purposes.

If you buy and sell goods between Northern Ireland and the EU, find out how to use a margin scheme to account for VAT.

Guidance on the law as it applies to time of supply and to changes in VAT rate and liability.

Help clients avoid expensive errors or unforeseen costs. Jamie Anderson | Feb 11, 2021 A good advisor will be able to help a collector navigate the (often rapidly) shifting sands with regards to sales and import taxes and associated duties and levies on art acquisitions. While it may be unfair to expect an advisor or broker to understand the applicable tax rates in every scenario, advice can be given to help a collector avoid expensive errors or unforeseen costs. Here we give general info...

Detail This notice cancels and replaces Notice 718/1 (December 2020). Details of any changes to the previous version can be found in paragraph 1.2. It applies to supplies of used vehicles within the UK and to acquisitions of used vehicles into Northern Ireland from the EU. 1. Overview 1.1 Information in this notice This notice explains when you may use the Second-hand Margin Scheme to account for VAT on your sales of second-hand vehicles. It explains: how the scheme works what records you must ...

Agricultural Flat Rate Scheme (VAT Notice 700/46) Find out who can use, and how to apply to join the Agricultural Flat Rate Scheme. From: Contents 1. Overview 1.1 What this notice is about It explains the Agricultural Flat Rate Scheme, who can use it and how to apply to join. 1.2 What’s changed from the previous version This revised notice replaces the October 2012 edition and includes details of the entry and exit criteria for the Agricultural Flat Rate Scheme. 1.3 Force of law Sec...

Auctioneers Scheme (VAT Notice 718/2) How the VAT Auctioneers Scheme works and when you may use the scheme to account for VAT on the supplies you make. From: Contents 1.1 Information in this notice This notice is about the Auctioneers’ Scheme, which is a variation on the VAT Margin Scheme for second-hand goods, antiques, works of art and collectors’ items. It tells you when you may use the Auctioneers’ Scheme to account for VAT on the supplies you make. It explains: how the sche...