If I purchase second hand jewellery from a private individual not vat registered and I sell the item myself through my vat registered jewellers can I use the vat margin scheme ? Or would I have to pay over the full 20% vat ? Or is there a scheme for second hand jewellery that you only pay the vat on the difference between what you pay to what you sell it for ?
2nd Aug 2023
Second hand jewellery vat margin scheme
If I buy jewellery from an individual and sell it in my vat registered business what vat do I pay