VATMARG04300 - The auctioneers’ scheme: Sales on behalf of pawnbrokers

Auctioneers may use the scheme for the sale of eligible goods on behalf of a pawnbroker where the pledgor is not VAT registered and the pawn value is greater than £75.

The auctioneer will need to obtain confirmation from the pawnbroker that the pledgor is not VAT-registered and retain evidence for assurance purposes. Information about use of the margin scheme by pawnbrokers can be found in VATMARG13550.