Check the rules if you’re buying a second-hand vehicle . Check the rules if you’re selling a second-hand vehicle . Use the scheme rules to work out the margin . Keep records .
Requirements
You must keep normal VAT records when you use the margin scheme. You must also keep: a stock book that tracks each item sold under the margin scheme individually copies of purchase and sales invoices for all items You must include any goods you buy or sell using a margin scheme on your VAT return .