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VAT is usually chargeable on the sale of second hand goods and equipment.

However if Ïã¸ÛÁùºÏ²Ê sells second hand goods such as works of art, antiques or collectibles there may have been no VAT to reclaim when they were bought. It may then be possible to use a VAT margin scheme which enables VAT to be accounted for on the difference between the price paid for the item and the price for which it was sold.ÌýÌýÌý

The margin scheme can be used when Ïã¸ÛÁùºÏ²Ê buys from individuals who are not registered for VAT or are themselves using the margin scheme.

Please contact the Taxation team to discuss this.