How would you define turnover for vat threshold) if you sell second hand cars?

Hello.

A business selling second hand cars can use the margin scheme when calculating VAT. But in order to determine whether turnover exceeds the threshold for VAT purposes, surely you use the gross turnover figure and not the margin? 

Thanks

SA

Comments
There are 10 comments. Login or register to view them.

I would hope it's gross

HeavyMetalMike |

 

puzzel |
puzzel's picture

Selling price = turnover (not margin)

DMGbus |
DMGbus's picture

Thank you for all your

Towards excellence |

DMG - if the dealer was

shaun king |

The point is...

DMGbus |
DMGbus's picture

I wouldn't disagree with your

shaun king |

Arrangements have an effect on registration obligation

DMGbus |
DMGbus's picture

Well that is a massive leap -

shaun king |

Don't you hate January?

miketombs |
miketombs's picture