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 keep
This notice assumes that you have a working knowledge of basic VAT principles, as outlined in VAT guide (VAT Notice 700).
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
Section 10 contains an example of the VAT 98 form which carries the force of law under the VAT Regulations 1995, Regulation 204(c).
1.4 Who the flat rate scheme is for
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 VAT principles, as outlined in Notice 700: the VAT Guide.