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HMRC internal manual

VAT Margin Schemes

From
HM Revenue & Customs
Updated
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Global accounting: Bulk purchases

Bulk purchases with a combined purchase price of over £500 can be included in global accounting. Any items with an individual purchase value of over £500 should be deducted from the total purchase price and excluded from the scheme. The remaining items may then be included in global accounting.

Items valued at over £500 can be included in the margin scheme, provided the relevant conditions are met, or they can be sold under the normal VAT rules.