VAT advise

exe
exe Registered Posts: 1
in VAT
The vehicle was purchased from BCA Auction no vat charged this must be because the owner was not vat registered and yet the seller BCA are vat registered and charged no vat?

This is the one of the reasons I asked the question I could /maybe wrong but if we purchase a vehicle without VAT and we are vat registered then should be able to sell it without vat just the way BCA have done.

Comments

  • crispy
    crispy Registered Posts: 468 Dedicated contributor 🦉
    Hello, I imagine your seller is using the second hand goods scheme to account for VAT:

    https://www.gov.uk/guidance/using-the-vat-margin-scheme-for-second-hand-vehicles

    On sale of the same vehicle if you have not reclaimed Input VAT then no need to charge it out.

    Hope the link helps.
  • douglasstroud
    douglasstroud Registered Posts: 310 Dedicated contributor 🦉
    You don’t say what type of vehicle it is?
  • Phreekst
    Phreekst Registered Posts: 1
    edited February 2025
    If you're unsure about specific VAT rules, getting some expert input can make a big difference. I’ve found that VAT consultancy services can clear up a lot of confusion, especially in tricky situations. They can help break down complicated rules in a way that actually makes sense.
  • duncan123
    duncan123 Registered Posts: 15 New contributor 🐸
    Hi, we are building an automated tool to help businesses to identify both historical VAT risks and missed opportunities to claim VAT. It will sit above Xero, Quickbooks and SAGE and integrate seamlessly whilst keeping your data totally secure. Kind of like a 'quick VAT health check.' Just wondering if you'd find something like this useful? Thanks

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