HMRC are extending the deadline for using the VAT margin scheme for second-hand vehicles bought in GB and moved to NI before 1 May 2023. The deadline will now be 30 April 2024 rather than 31 October 2023.
The new VAT second-hand motor vehicle payment scheme is available for vehicles moved from Great Britain to Northern Ireland on and after 1 May 2023. For vehicles that were purchased in GB and moved to NI before that date, the new scheme is not available and the margin scheme should be used, so long as the vehicles are resold before the deadline. Where any such vehicles are resold after that date, VAT will need to be accounted for on the full selling price.
HMRC are extending the deadline for using the VAT margin scheme for second-hand vehicles bought in GB and moved to NI before 1 May 2023. The deadline will now be 30 April 2024 rather than 31 October 2023.
The new VAT second-hand motor vehicle payment scheme is available for vehicles moved from Great Britain to Northern Ireland on and after 1 May 2023. For vehicles that were purchased in GB and moved to NI before that date, the new scheme is not available and the margin scheme should be used, so long as the vehicles are resold before the deadline. Where any such vehicles are resold after that date, VAT will need to be accounted for on the full selling price.
