Bought a trailer 4 years paid no vat , now I'm selling it do I charge vat
I'm losing money on it
Seller was not vat registeredwhy was there no vat on the purchase ?
If you are vat registered yesBought a trailer 4 years paid no vat , now I'm selling it do I charge vat
I'm losing money on it
Probably non vat registered sellerwhy was there no vat on the purchase ?
That is my understanding too. You bought it without VAT, so no VAT is due... Certainly was a few years back when I checked after selling some kit bought privately...
Second hand?why was there no vat on the purchase ?
Ok , I thought you charge margin vat which is vat on the profit , which doesn't exist with thisThat is my understanding too. You bought it without VAT, so no VAT is due... Certainly was a few years back when I checked after selling some kit bought privately...
I could be wrong but as I understand it whether the seller was vat registered or not is irrelevant you must charge vat if you are registeredThat is my understanding too. You bought it without VAT, so no VAT is due... Certainly was a few years back when I checked after selling some kit bought privately...
ShushIs there VAT on cash
And I will be the first to admit I could be wrong too... Just based on what the accountant told me at the time...I could be wrong but as I understand it whether the seller was vat registered or not is irrelevant you must charge vat if you are registered
I but he’s from Towlaw they have their own rules their .Mark Watson was selling a ex JCB ERF tractor unit on eBay earlier today, can't find it now £20000+VAT or £21000 no VAT
Purchased a landrover of dealer not vat when he purchased it paid no vat had it for several years accountant said when I sold it no vat on sale i said are you sure yes they said a lot don't get it.