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HMRC internal manual

VAT Margin Schemes

From
HM Revenue & Customs
Updated
, see all updates

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.