Help/info needed .... VAT on 2nd hand parts ????
31-10-2006, 07:06 PM
#1
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Help/info needed .... VAT on 2nd hand parts ????
Ok if you buy a 2nd hand exhaust from a tuning company and they state its 2nd hand do you have to pay VAT on it?
I always thought not on 2nd hand goods, because the VAT was paid the 1st time round when it was sold new, therefore you dont pay VAT for a 2nd time when the goods are 2nd hand.
Am i right ??
Cheers for any help / info
I always thought not on 2nd hand goods, because the VAT was paid the 1st time round when it was sold new, therefore you dont pay VAT for a 2nd time when the goods are 2nd hand.
Am i right ??
Cheers for any help / info
31-10-2006, 07:18 PM
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had this before.
If the company is VAT registered they have to charge for it as thet item was part of thier stock, it doesn't matter if it was vat'd before or not, all stock sales will have it added.
if they bought it in, they have to account for it leaving.
If the company is VAT registered they have to charge for it as thet item was part of thier stock, it doesn't matter if it was vat'd before or not, all stock sales will have it added.
if they bought it in, they have to account for it leaving.
31-10-2006, 08:16 PM
#3
Originally Posted by Moose 130
had this before.
If the company is VAT registered they have to charge for it as thet item was part of thier stock, it doesn't matter if it was vat'd before or not, all stock sales will have it added.
if they bought it in, they have to account for it leaving.
If the company is VAT registered they have to charge for it as thet item was part of thier stock, it doesn't matter if it was vat'd before or not, all stock sales will have it added.
if they bought it in, they have to account for it leaving.
i dont know how many times on this board i have seen people slagging off traders because they need to charge vat on secondhand goods they sell if they are vat registered
31-10-2006, 09:22 PM
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If I sell a second hand part then i charge VAT on it.
I am vat registered and have my vat bill at the end of the year.
So I will get charged the vat on the second hand goods as it is part of the turnover.
Why should i pay the vat?
The customer has to pay the vat always.
I am vat registered and have my vat bill at the end of the year.
So I will get charged the vat on the second hand goods as it is part of the turnover.
Why should i pay the vat?
The customer has to pay the vat always.
31-10-2006, 09:53 PM
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Originally Posted by NORTH YORKS RS SPARES
What you sell is irelevant , if you turn over more than 61k a year you have to charge VAT on every item you sell ,,new or used
simple as that
simple as that
Lots of things are vat exempt. (Ok, not usually car parts!)
Books - for example. A shop selling car parts wouldn't charge vat on a Haynes manual.
I dont see why second hand parts would be liable for vat - as it was already paid when the item was new.
I think the reason traders charge (and pay) vat is because the parts they sell are technically RECYCLED - not second hand.
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31-10-2006, 09:56 PM
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Originally Posted by NORTH YORKS RS SPARES
What you sell is irelevant , if you turn over more than 61k a year you have to charge VAT on every item you sell ,,new or used
simple as that
simple as that
31-10-2006, 10:00 PM
#9
Originally Posted by phil4x4saph
Originally Posted by NORTH YORKS RS SPARES
What you sell is irelevant , if you turn over more than 61k a year you have to charge VAT on every item you sell ,,new or used
simple as that
simple as that
Lots of things are vat exempt. (Ok, not usually car parts!)
Books - for example. A shop selling car parts wouldn't charge vat on a Haynes manual.
I dont see why second hand parts would be liable for vat - as it was already paid when the item was new.
I think the reason traders charge (and pay) vat is because the parts they sell are technically RECYCLED - not second hand.
31-10-2006, 10:09 PM
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Im not going to get in a arguement with you, but
"you have to charge vat on every item you sell"
as a blanket statement is not true.
But I accept it may well apply to every item YOU sell.
When I wrote "I dont see why second hand parts would be liable for vat" means I disagree with the VAT rules, not what you wrote!
"you have to charge vat on every item you sell"
as a blanket statement is not true.
But I accept it may well apply to every item YOU sell.
When I wrote "I dont see why second hand parts would be liable for vat" means I disagree with the VAT rules, not what you wrote!
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