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.