Vat on second hand goods

Vat on second hand goods

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My client is VAT registered and considering buying some second hand goods from a supplier to resell it onto a client. VAT has already been paid on these goods originally. Will the supplier charge VAT and will he have to charge VAT?

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By Novakova
22nd Oct 2014 11:24

Vat on second hand goods

If the supplier charges VAT, the client should charge output VAT as usual.

If the supplier does not charge VAT, the client can choose to use the margin scheme when he sells.

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By Rachel F
22nd Oct 2014 13:23

that is what i thought - thank you

 

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