VATNINMT6100 - Risks and assurance: objectives

The assurance objectives at business’s premises are:

zero-rating of each new means of transport supplied for removal is appropriate;
vendors of new means of transport submit the original Forms VAT411 to the PTU on a timely basis and that the forms are properly completed;
VAT is accounted for correctly on acquisitions by VAT-registered persons, whether for onward sale or personal use; and
VAT101 (EC Sales lists) are completed for supplies of new means of transport to registered businesses in EU member-states who take delivery of the new means of transport in Northern Ireland for subsequent removal to the member-state of consumption.

VAT New Means of Transport Northern Ireland