selling an item, do you add VAT?

[Mesterh]

Right I see, Thanks for clearing that up. Obviously my selling it would only benfit someone who wasn't Vat reg then.

 

It will indeed so make sure you advertise "NO VAT!!!!"

[Daniël Bos]

They'd have to be pretty pants at business to not know the value of something they are buying.

 

It's a used item:confused1: prices will vary with what life it's had, how it looks, local demand etc?

 

The way I see it is as follows: I don't buy a £100 item and then pay £20 vat as well. I buy an item that costs me £120. Whether or not the seller needs to hand over part of that to the tax man or the grim reaper is not my concern.

When I sell something I price it for what I want for it, not what I paid for it minus depreciation plus Vat etc...

[Matthew Storrs]

I would indeed but as Skyhuck says, anyone about to part with a couple of grand would probably do fairly extensive research into how much something was worth and therefore would know that really they were paying part of the VAT i originally paid.

[skyhuck]

It's a used item:confused1: prices will vary with what life it's had, how it looks, local demand etc?

 

The way I see it is as follows: I don't buy a £100 item and then pay £20 vat as well. I buy an item that costs me £120. Whether or not the seller needs to hand over part of that to the tax man or the grim reaper is not my concern.

When I sell something I price it for what I want for it, not what I paid for it minus depreciation plus Vat etc...

 

If your VAT registered it is your concern, because if parts of your money goes to the VAT man, you can claim that money back

[Matthew Storrs]

It's a used item:confused1: prices will vary with what life it's had, how it looks, local demand etc?

 

The way I see it is as follows: I don't buy a £100 item and then pay £20 vat as well. I buy an item that costs me £120. Whether or not the seller needs to hand over part of that to the tax man or the grim reaper is not my concern.

When I sell something I price it for what I want for it, not what I paid for it minus depreciation plus Vat etc...

 

Yes thats how I look at buying things too, but someone who could potentially get the VAT back would actually get a better deal going for a more expensive trailer and get 20% back whereas folk who arnt VAT reg would get a better deal going for my trailer.

[benedmonds]

If you are VAT registered and buy a secondhand vehicle without VAT, if you then sell it do you have to add VAT?

[gensetsteve]

If your not vat registered its not your problem. If I buy a piece of kit I look at the net price new ( because I claim the vat back ) then I deduct 25% per year or more if its had a hard life.

[eddiegts]

If you are VAT registered and buy a secondhand vehicle without VAT, if you then sell it do you have to add VAT?

 

No if you did not pay VAT on the item then you can't sell it with vat on the top.

[Al Cormack]

No if you did not pay VAT on the item then you can't sell it with vat on the top.

 

Not right I'm afraid.

If you are vat registered anything you sell has to have vat added unless it is 0% rated.

[skyhuck]

Not right I'm afraid.

If you are vat registered anything you sell has to have vat added unless it is 0% rated.

 

This is also my understanding of the situation.