WebOverview of margin schemes. This guidance note provides an overview of the margin schemes that businesses may wish to use in respect of sales of the following second-hand items: VATA 1994, s 50A; VAT (Special Provisions) Order, SI 1995/1268; De Voil V3.532; Notice 718 The VAT Margin Scheme and global accounting; 2006/112/EEC, Arts 312–341 ... Web1 Jan 2024 · VAT second-hand margin scheme: Northern Ireland . Backdated to 1 January 2024. The VAT second-hand margin scheme will be extended to apply in Northern Ireland on a limited basis in respect of motor vehicles sourced from Great Britain. This will apply for vehicles registered prior to 1 January 2024 until the Second-hand Motor Vehicle Export ...
Exception from VAT Registration - The VAT People
Web17 Nov 2024 · The VAT bill for a car bought for £8,000 and sold for £10,000 could rise from £333 to £1666. GB is a significant source of second-hand cars for NI either from auctions … Web25 Mar 2024 · In most cases, the value will be the full purchase price you paid for the vehicle. For example, if you purchase an eligible second-hand car in Great Britain for … gretchen fowell great falls obgyn
Post-Brexit VAT change could leave dealers out of pocket
Web28 Oct 2024 · Oct 28, 2024 The UK Budget documents confirms that if an agreement is reached with the EU, the Government will legislate to extend the VAT margin scheme to … Web28 Oct 2024 · The government has said it intends to introduce a new VAT refund scheme in a bid to solve a Northern Ireland Protocol problem affecting car dealers. Changes to the … Web17 Mar 2024 · Following lengthy review of the second-hand margin scheme for motor vehicles purchased in Great Britain (GB) and sold to Northern Ireland (NI) and the … gretchen fox echols