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dreamstep
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Joined: Sun May 06, 2012 2:31 am

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Post by dreamstep » Sun Jul 15, 2012 9:44 pm

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Last edited by dreamstep on Thu Jul 04, 2013 1:07 pm, edited 2 times in total.



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Rosamunda
Posts: 10650
Joined: Fri Jan 02, 2004 12:07 am

Re: Secondhand goods and VAT

Post by Rosamunda » Sun Jul 15, 2012 10:05 pm

There is something called the VAT margin scheme which applies to secondhand goods being bought and sold as a business. I think (but am not 100% sure) that you only charge VAT to your customers on the difference between your purchase price and your selling price. Eg: if you buy a dress for 20e and sell it for 25e you would only charge VAT (23%) on the 5e difference.

The only info I can find is in Finnish and my Finnish isn't great so I'd rather not give you any advice. I suggest you contact Vero directly for confirmation.

If you add value to the goods that you buy (eg you buy old furniture and then you renovate it before reselling) you would have to charge some VAT but I have no idea how "added value" is calculated in practice.


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