Auctioneers' Scheme (VAT Notice 718/2)
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 scheme works what records you must keep This notice assumes that you have a working knowledge of basic ...
Source: gov.uk