VAT margin scheme stock book for used cars
VAT margin scheme stock book per used vehicle.
Who it is owed to
- Owed to
- HM Revenue and Customs
- Source
- VAT Notice 718/1, the margin scheme for second-hand vehicles
- Official page
- gov.uk
- Applies
- Used cars on margin scheme
Checked against HM Revenue and Customs's official page on 14 October 2026. Not legal advice.
What has to happen, and when
- When
- Per vehicle
- Evidence usually kept
- Stock book, invoices
- Usually owned by
- Finance manager
What goes wrong
If HMRC cannot check the margins declared from the stock book and the purchase and sales invoices, VAT is due on the full selling price of each vehicle, not on the margin.
Source: gov.uk
How the register holds it
- One item owed to HMRC, with a finance manager as its owner and a due date set from the rule above.
- The owner commits to a date the first time they open it, and the evidence (stock book, invoices) is attached before it can be marked done.
- A manager confirms it, a reminder goes by email before it falls due, and the item's history cannot be edited or deleted.
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