HMRC Guidance: The Margin Scheme on second-hand cars and other vehicles (VAT Notice 718/1)

How the Margin Scheme works and when you can use it for sales of second-hand vehicles.

Contents

• Detail
• 1. Overview
• 2. The Margin Scheme on second-hand cars and other vehicles
• 3. Making your Margin Scheme calculations
• 4. Buying and selling vehicles under the Margin Scheme
• 5. Records and accounts
• 6. Example of a Margin Scheme stock book
• 7. The Global Accounting Scheme
• 8. Buying and selling vehicles at auction
• 9. Linked insurance products and warranties
• 10. Other issues which may affect your Margin Scheme calculations
• 11. Transfer of a going concern and assignments of rights
• Your rights and obligations
• Help us improve this notice
• Putting things right
• How HMRC uses your information

Source gov.uk

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