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Schemes

Second-Hand Goods margin scheme

The standard per-item margin scheme for antiques, works of art, collectors' items, and general second-hand goods.

Per-item margin VAT for antiques, works of art, collectors' items, and general second-hand goods that don't fit the motor trade, horses, or global accounting schemes.

  • One stock record per item with all HMRC-required fields.
  • VAT due = (sale price − purchase price) × 1/6 per item.
  • Bulk import via spreadsheet for backlogs.
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