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Margin scheme for second-hand cars in NI

printer Mail

HMRC has updated its guidance on sales of second-hand cars in Northern Ireland, to cover the new second-hand motor vehicle export refund scheme that the UK government intends to introduce in October 2022. The scheme will replace the VAT margin scheme for second-hand vehicles bought in Great Britain and moved to Northern Ireland before being resold.

HMRC advises businesses to continue to follow guidance on the existing VAT margin scheme until the new scheme is introduced; more detailed guidance is expected in May 2022.

Issue: 1570
Categories: News