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vat on 2nd hand machinery

  • 06-05-2021 10:39AM
    #1
    PMU
    Registered Users, Registered Users 2 Posts: 635 ✭✭✭


    why are some machines sold with a + vat message in the description.
    I`m talking farm to farm sales. I`m not registered


Comments

  • #2
    Sacrolyte
    Registered Users, Registered Users 2 Posts: 901 ✭✭✭Sacrolyte


    PMU wrote: »
    why are some machines sold with a + vat message in the description.
    I`m talking farm to farm sales. I`m not registered

    If the individual selling is vat registered then as far as I know they must charge the vat with few exceptions.
    When they initially bought the machine they would have paid and subsequently claimed the vat back back so the vat element from revenue perspective is still there and must be charged.
    However if the farmer that bought it was not vat registered they then would have paid the vat and not subsequently claimed it back making the machine (as far as I know) applicable for the Vat Margin Scheme where no vat is falling due owing to the fact that it was already claimed.


  • #3
    PMU
    Registered Users, Registered Users 2 Posts: 635 ✭✭✭PMU


    thanks


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