Explain me VAT margin stock

[bobk]

Had to buy another iphone as another got broke , only i5 refurbed for £54 , but thought I'd ask for vat invoice , margin stock was the reply ....

Not an issue , but anyone care to explain this situation

 

[nick...]

Salesman probably couldn’t be arsed
nick...

 

[TheTallGuy]

If its second hand then the dealer will almost certainly not paid VAT on the purchase price, there will have been VAT on their "margin" i.e. their markup . This VAT is not reclaimable & should not be shown on the invoice....
https://www.gov.uk/vat-margin-schemes/keeping-records

 

[bobk]

If its second hand then the dealer will almost certainly not paid VAT on the purchase price, there will have been VAT on their "margin" i.e. their markup . This VAT is not reclaimable & should not be shown on the invoice....
https://www.gov.uk/vat-margin-schemes/keeping-records

Many thanks