VAT changes bring red tape
VAT changes bring red tape
- 2002
- Antiques Trade Gazette (1529) 9 March 2002, 3(1) .
Changes have been announced to the VAT secondhand margin scheme (notice 718). Dealers who use a system called Global Accounting to calculate VAT on profit margins will have to record the names and addresses of sellers on purchase invoices. - reflecting a main requirement of the Kent County Council Bill. The changes come into force 31 July 2002. Details of the changes and Notice 718 are available from the Customs and Excise National Advice Service, t +44 (0)845 010 9000.
HM CUSTOMS AND EXCISE
VALUE ADDED TAX
NOTICE 718
GLOBAL ACCOUNTING
GOODS
PURCHASE INVOICES
Changes have been announced to the VAT secondhand margin scheme (notice 718). Dealers who use a system called Global Accounting to calculate VAT on profit margins will have to record the names and addresses of sellers on purchase invoices. - reflecting a main requirement of the Kent County Council Bill. The changes come into force 31 July 2002. Details of the changes and Notice 718 are available from the Customs and Excise National Advice Service, t +44 (0)845 010 9000.
HM CUSTOMS AND EXCISE
VALUE ADDED TAX
NOTICE 718
GLOBAL ACCOUNTING
GOODS
PURCHASE INVOICES