Accounting checklist

Acquisition of goods

Adequacy of records, commissioners' discretion

Antiques

Coins, scheme use and commissioners' discretion

Generally

Auctioneers scheme

Generally

New goods grown, made or produced by unregistered persons

Authority for scheme

Bad debt relief

Boats, refitting and subsequent sale

Calculation of margin

Generally

Part-exchange, way to handle

Payments by more than one person

Car dealers

Building and subsequent sale of car

Commission entry fee and indemnity fee paid to auctioneer

Entitlement to use margin scheme on resold vehicles

Cars

Acquisition under transfer of a going concern

Cases on dealers in cars

Consideration for acquisition

Exclusive business use

Generally

Lack of records

Output tax

Records

Resale of cars used in car-leasing business

Road fund licences

Sale price of second-hand car, calculation

Used car

Checklist: conditions for using

Civil fraud

Earlier VAT recovery: margin scheme unavailable

European law compliance

Four-wheeled all terrain vehicles

Generally

Global accounting

Ceasing to use

Generally

Horses and ponies

Imported works of art, antiques and collectors' items: five per cent charge

Input tax, non-deductible

Intra-EU supplies

Invoices

Items sold for scrap

Live animals

Live animals: eligible goods

Margin scheme

Cars

Commissioners' discretion

Commissioners' refusal to recognise records as sufficient for scheme

Generally

Interaction with reverse charge: carousel fraud

Onward sale of cars

Records, non-compliance with statutory requirements

Right to apply

Sales of second-hand cars taken in part-exchange

Spare parts for motor vehicles imported from outside EU

Unavailable for goods imported from outside EU

Works of art

Official publications having statutory effect

Output tax

Record-keeping requirements

Case

Generally

Registration threshold

Resale of goods purchased from individuals, input tax

Selling goods assigned before 1 July 2002

Stock book

Taxing the profit margin

Transfer of going concern

Value of supplies: threshold for registration and cash accounting