Eligible vehicles purchased in Great Britain and moved to Northern Ireland before 1 May 2023 can now be sold under the margin scheme until 30 April 2024.
Until 1 May 2023, businesses could account for VAT on second-hand vehicles bought in Great Britain and sold in Northern Ireland under the second-hand margin scheme. This meant the business was only required to account for VAT on the difference between the purchase price and the sale price. Vehicles purchased in Great Britain from 1 May 2023 onwards but sold in Northern Ireland no longer qualify for the margin scheme.
Source: www.icaew.com
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