VATMARG02150 - Basic principles: Conditions of the margin schemes

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

• the business is registered for VAT;
• the purchase invoice for the goods does not show VAT separately;
• the business 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.