beta This part of GOV.UK is being rebuilt – find out what beta means

HMRC internal manual

VAT Margin Schemes

Basic principles: Conditions of the margin schemes

Traders dealing in the sale of eligible goods as detailed at VATMARG02100 can use the schemes provided they meet the following conditions:

  • the trader is registered for VAT;
  • the purchase invoice for the goods does not show VAT separately;
  • the trader does not issue a VAT invoice or other invoice which shows VAT separately for the sale of the goods; and
  • all the record-keeping, accounting and invoicing requirements are met.