Change of Mind...................

Change of Mind...................

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Engineer introduces a motorised vehicle into his business as stock, with the intention of restoring the vehicle and selling it on. Unfortunately, the vehicle does not sell and the sole trader contemplates keeping it for himself.

Having worked out the VAT on the margin scheme, taxppayer now wishes to keep the vehicle in the business and treat it as a demonstration vehicle to show to prospective customers.

Does this change have any effect on the margin scheme calculation, or does it remain the same?

Robert Clubb

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