Need to charge VAT on sale of van?? Not claimed on purchase
It's so easy so please confirm a schoolboy question.
Client - a mechanic - purchased a van from a private individual, so not VAT charged/claimed.
Van now up for sale.
I told my client that VAT will need to be accounted for out of his sale proceeds / he'll need to charge VAT on sale. I can't see any reason not to can you??
I don't suppose he can use 2nd hand margin scheme for one transaction??