HMRC Guidance: Guidance The Margin and Global Accounting Scheme (VAT Notice 718)

Find out how to account for VAT on the sale of your goods using the Margin Scheme or the Global Accounting Scheme.

Contents

• 1. Overview
• 2. Basic principles
• 3. Making your Margin Scheme calculations
• 4. Buy and sell goods under the Margin Scheme
• 5. Records and accounts
• 6. Example of a Margin Scheme stock book
• 7. The margin schemes and buying and selling within the EU and Northern Ireland
• 8. The margin schemes and imports and exports
• 9. Transfers of going concerns and assignments of rights
• 10. Works of art, antiques and collectors’ items on which VAT has been charged and the Margin Scheme
• 11. The margin schemes and buying and selling at auction
• 12. The margin schemes and joint purchases and shares
• 13. Further information
• 14. Global Accounting Scheme
• 15. Records and accounts for the Global Accounting Scheme
• 16. Dealers in second-hand horses and ponies and the Margin Scheme
• 17. Agents and the Margin Scheme
• 18. Pawnbrokers and the Margin Scheme
• 19. Dealers in second-hand caravans and houseboats and the Margin Scheme
• 20. Definitions
• Your rights and obligations
• Help us improve this notice
• Putting things right

Source gov.uk

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