Global accounting: What goods can be sold under global accounting?
The scheme can generally be used for those goods detailed at VATMARG02100 of this guidance, provided they have a purchase price of £500 or less per item.
The following margin scheme goods cannot be included in global accounting, irrespective of their purchase price:
- boats and outboard motors;
- caravans and motor caravans;
- horses and ponies; and
- motor vehicles including motorcycles (however, for vehicles which are broken up for scrap see VATMARG03300).