The Book-keepers Forum (BKF)

Post Info TOPIC: Any special rules or schemes


Senior Member

Status: Offline
Posts: 360
Date:
Any special rules or schemes
Permalink Closed


Hi Is there any special rules or schemes for individuals that buy and sell second hand cars? Thanks Stuart

__________________


Expert

Status: Offline
Posts: 1963
Date:
Permalink Closed

Hi Stuart,

The only scheme I am aware of for second hand cars is the margin scheme for vat, i.e. vat is accountable on the difference between purchase and sale price. Obviously normal rules apply when assessing whether the client needs to be vat registered. The trader has to keep a log book of purchases and sales and dates thereof but all this can easily be put on a spread sheet.

__________________
Rob
www.accounts-solutions.com


Senior Member

Status: Offline
Posts: 360
Date:
Permalink Closed

That's great thanks rob .. I thought it was that scheme but didn't know what it was :) Thanks Stuart

__________________
Page 1 of 1  sorted by
 
Quick Reply

Please log in to post quick replies.

Tweet this page Post to Digg Post to Del.icio.us
Members Login
Username 
 
Password 
    Remember Me  
©2007-2024 The Book-keepers Forum (BKF). All Rights Reserved. The Book-keepers Forum (BKF) is a trading division of Bookcert Ltd. Registered in England Company Number 05782923. 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR, United Kingdom. The Book-keepers Forum and BKF are trademarks of Bookcert Ltd. This forum is a discussion forum only. There will usually be more than one opinion to any question and any posting should not be viewed as a definitive solution. No responsibility for loss occasioned to any person acting or refraining from action as a result of any posting on this site is accepted by the contributors or The Book-keepers Forum. In all cases, appropriate professional advice should be sought before making a decision. We reserve the right to remove any postings which are offensive, libellous, self-promoting or engaged in covert marketing. We will not notify users of removals. The views expressed in the forum posts are those of the individual and do not necessary reflect or agree with those of The Book-keepers Forum. Any offensive or unsuitable posts will be removed by the moderators. Any reader of this forum can request for a post to be looked into by sending an email to: bookcertltd@gmail.com.

Privacy & Cookie Policy  About