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HMRC internal manual

VAT Margin Schemes

From
HM Revenue & Customs
Updated
, see all updates

Basic principles: What this section is for

 

VATMARG02000 provides guidance on the Margin Scheme which can be used to buy and sell second-hand goods, works of art, antiques and collectors’ items.

The Margin Scheme provides the basis for the other two schemes referred to in this guidance,

  • the global accounting scheme, and
  • the auctioneers’ scheme; and therefore the guidance contained in

VATMARG02000 is relevant to all three schemes.