Note: This notice was withdrawn on 23 December 2021. The notice was last updated on 31 December 2020 and is reproduced below for information purposes only.

Find out how to account for VAT on the sale of your goods using the Margin Scheme or the Global Accounting Scheme.

1. Overview

1.1 What this notice is about

This notice explains when you may use the Margin Scheme for second-hand goods, works of art, antiques and collectorsʼ items, or the Global Accounting Scheme to account for VAT on your sale of goods.

It explains:

which goods you can sell under the schemes

how the schemes work

how you must calculate the margin

what records you must keep

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