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The mkiv Supra Owners Club

VAT on second hand parts from traders?


JohnK
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If you are in the UK and ordering parts officially from the company then vat must be charged at 17.5% if the trader is VAT registered.

 

If you are in the states then VAT is still charged from a registered trader but at 0%

 

All invoices must display a valid vat number (and make sure you check it).

 

If you pay your funds to the traders company then you should pay VAT, this is not an increase in profit as the trader is simply collecting tax for customs and excise and will need to forward those funds on to HMC&E

 

If you think that a trader has incorrectly charged/not charged VAT then ask for a full invoice and receipt on that basis, if the results are incorrect then forward to HM Customs and Excise.

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Surely Second Hand Parts/use parts have already been subject to vat when the part(s) were sold when new, if so, then HM Customs are ripping ppl off, as well as the dodgy dealers, if you are being charged vat on a use part ask for a reciept for your own vat as you intend to claim it back with your tax returns, if the dishonest ones make, say, five grand per week in sales then they will make £875.00 p/w from the Mugs that they have just ripped off.

If they are reported to HM Customs then the powers that be will go right through all of thier books going back years = a heavy fine and possible time in the tin pale :cry:

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Depends on how the transaction is done I would have thought, and if they were deemed the traders private goods

Exactly Terry, echos what I was saying up the list.

 

You can't expect favours on pricing on one hand having discounted second hand products and then complain you've not had a VAT invoice!

 

Fine, if you insist on a VAT invoice for everything - then expect to have the price increased accordingly as the trader has to put it through the business.

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