Understanding VAT Compliance for Businesses Using Margin Schemes

Read Tax & Compliance Guidance

Date: 17th Feb, 2025 Source: In-House Country: United Kingdom

Brief

On 17/02/2025, the Her Majesty’s Revenue and Customs (HMRC) issued an update regarding Non-compliance by businesses using the schemes. Businesses already using the margin scheme or other accounting methods must keep accurate records; failure to do so may result in VAT being charged on the full selling price of second-hand goods, not just the margin.

This content is restricted.

Highlights content goes here...

RADA.AI

Hello! I'm RADA.AI - Regulatory Analysis and Decision Assistance. Your Intelligent guide for compliance and decision-making. How can i assist you today?

Suggested

Understanding VAT Compliance for Businesses Using Margin Schemes

Brief

Form successfully submitted. One of our GRI rep will contact you shortly

Thanking You!

Enter your Email

Verify Email

Tell us more about yourself

Select your work area

Select your country

All set.

Understanding VAT Compliance for Businesses Using Margin Schemes

Brief

Form successfully submitted. One of our GRI rep will contact you shortly

Thanking You!

Enter your Email

Verify OTP

Enter your Email

Verify Email

Tell us more about yourself

Select your work area

Select your country

All set.