This month’s Update revisits that midget gem of VAT law, the NI VAT-Related Payment Scheme for second-hand cars.
Generally, it has worked pretty well this last year, but there are some definite traps for the unwary (for example, it is a bad idea to bring a car from GB to NI and then sell it back again… but the guidance kind of suggests that anyway…).
This Update, however, covers the main things which most people will be interested in, including:
- Why it’s needed
- How it works
- The eligibility rules
- What happens to old stock on 30 April 2024
And much more. To read the whole thing, just CLICK HERE!
Source Ciaran McGee
Latest Posts in "United Kingdom"
- UK Eases VAT Grouping Rules to Attract Foreign Investment and Simplify Cross-Border Compliance
- Tribunal Rules Bespoke Autobiography Books by Story Terrace Qualify for VAT Zero-Rating
- Full VAT Recovery Allowed on Product Photography Costs in Littlewoods v HMRC Tribunal Decision
- FTT Favors Commercial Reality Over Contract in VAT Reclaim Case on Truck Fuel and Repairs
- HMRC Updates VAT Exemption for Temporary Medical Staff After Isle of Wight Tribunal Decision
