- Original Poster
- #1
Good afternoon.
I just wanted to ask, I have a VAT registered business that used the Global Margin Scheme for.
I started buying second hand items to sell in my store that are not through a customer. For example I saw items on eBay. (for example a painting).
My question is how do I put these through my Till/EPOS to record the used purchase price so that when I sell the 16.67% vat I charged on the difference?
I feel if I do this as if I was the customer then it will cause 'Fraud' even though I am the owner.
is there something i am not thinking about?
thanks
Mel.
I just wanted to ask, I have a VAT registered business that used the Global Margin Scheme for.
I started buying second hand items to sell in my store that are not through a customer. For example I saw items on eBay. (for example a painting).
My question is how do I put these through my Till/EPOS to record the used purchase price so that when I sell the 16.67% vat I charged on the difference?
I feel if I do this as if I was the customer then it will cause 'Fraud' even though I am the owner.
is there something i am not thinking about?
thanks
Mel.