In article , Chris Barker <cbarker@xxxxxxxxxxx> wrote
>Kennedy
>
>Until last year, I had not heard of any UK dealers not adding VAT to
>second-hand sales; then Jessops had a series of sales to get rid of their
>second-hand stuff and they said that they had a system whereby they could
>avoid paying and charging VAT. Indeed, I called one of the large
>advertisers in AP a few months ago about a 300/4.5 and asked about buying
>it tax-free and they agreed to drop the price by the VAT rate.
>
>I should be very interested to know why most camera dealers in the UK,
>large and small, appear to charge VAT on second-hand goods.
>
Well, I have a receipt here in front of me for an OM-4Ti that I recently
bought which has the following printed on it:
"Payment received with thanks. Input tax deduction has not and will not
be claimed, in respect of the goods sold on this invoice."
When I asked the guy what that meant he said it was illegal to charge
vat on second hand goods. Since he deals with used sales every day I
guess he would know the tax situation better than I do.
It seems reasonable though - the tax has already been paid by the
original owner and cannot be claimed twice. It is the same principle
that permits businesses to buy components excluding vat (hence all the
adds for such goods that have prices inc. and exc. vat) - because the
tax will be charged when they are built into a system and sold to the
end user.
--
Kennedy
Yes, Socrates himself is particularly missed;
A lovely little thinker, but a bugger when he's pissed.
Python Philosophers (replace 'nospam' with 'kennedym' when replying)
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