J Jamesdavid Registered User Messages 2 17 Feb 2014 #1 Can anybody tell me how to account for VAT on some second hand desks I have sold. I an a business owner and the desks were on the asset register. I haven't made a profit on the sale?
Can anybody tell me how to account for VAT on some second hand desks I have sold. I an a business owner and the desks were on the asset register. I haven't made a profit on the sale?
J Joe_90 Registered User Messages 2,222 17 Feb 2014 #2 Are you registered for VAT? If you are then you change 23% on the price that you sold them at and return it on your VAT3 form.
Are you registered for VAT? If you are then you change 23% on the price that you sold them at and return it on your VAT3 form.
J Jamesdavid Registered User Messages 2 17 Feb 2014 #3 Hi Joe. I am VAT registered so I guess I charge VAT on the full amount. I'm the UK so for us it will be at 20%
Hi Joe. I am VAT registered so I guess I charge VAT on the full amount. I'm the UK so for us it will be at 20%
J Joe_90 Registered User Messages 2,222 17 Feb 2014 #4 This is an Irish site so any advice relates only to Irish VAT. I don't know anything about UK VAT so you should get advice specific to your needs.
This is an Irish site so any advice relates only to Irish VAT. I don't know anything about UK VAT so you should get advice specific to your needs.
L Leo Moderator Messages 16,238 17 Feb 2014 #5 Query isn't really anything to do with cars or motoring either...