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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.
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.
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Comments
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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.0 -
You don’t say what type of vehicle it is?0
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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.0
