V16.870 Changes to the VAT second-hand margin schemeVAT Information Sheet 6/01, December 2001What is this about?This information sheet does two things— — it draws your attention to a revised version of Notice 718 (Part V8), margin schemes for second-hand goods, works of art, antiques and collectors' items; and — it summarises the changes to the margin scheme which are contained in the revised notice.The new revised notice will be available in January 2002Who does it affect?It affects you if you use the VAT margin schemes for second-hand goods, works of art, antiques and collectors' items.Most of the notice improves Customs and Excise guidance on how the scheme works.But the new notice also contains some new rules
VAT Information Sheet 6/01, December 2001
This information sheet does two things—
— it draws your attention to a revised version of Notice 718 (Part V8), margin schemes for second-hand goods, works of art, antiques and collectors' items; and
— it summarises the changes to the margin scheme which are contained in the revised notice.
The new revised notice will be available in January 2002
It affects you if you use the VAT margin schemes for second-hand goods, works of art, antiques and collectors' items.
Most of the notice improves Customs and Excise guidance on how the scheme works.
But the new notice also contains some new rules
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