VAT margin scheme
Records and calculations to support eligible used-vehicle margin-scheme transactions.
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Motor trade
Accounting built around how car dealers actually trade.
Motor trade accounting can become messy quickly when stock, part-exchanges, preparation costs, commission vehicles and VAT treatment are not recorded consistently. We help put a workable process around it.
Noman Khan MAATICB QualifiedACSPDirect accountant accessFixed fees
How we help
Practical support, without unnecessary complexity.
Vehicle stock
Clear vehicle-by-vehicle purchase, sale and closing stock records.
Preparation costs
Bookkeeping that separates vehicle costs and other business expenditure appropriately.
Commission vehicles
Practical record keeping for commission or agency arrangements based on the facts.
Payroll
Payroll for directors and employees, including regular sales or workshop staff.
Year-end accounts
Annual accounts and Corporation Tax built from cleaner underlying dealer records.
What is included
Dealer records need to work vehicle by vehicle.
Vehicle stock schedule
Purchase and sale documentation
VAT margin-scheme records where applicable
Part-exchange and commission vehicle records
Bank and card reconciliation
Payroll, accounts and CT600 support
Questions
Common questions
Is VAT under the margin scheme based on preparation costs?
The margin scheme calculation is generally driven by the eligible purchase and selling prices, not ordinary preparation costs. The exact treatment depends on the transaction and records.
Do you work with used-car dealers?
Yes. Motor trade is one of our focus sectors.
Can you handle bookkeeping as well as year-end accounts?
Yes. For motor traders, recurring bookkeeping is often the best way to keep the stock and VAT records reliable.
Need an accountant who knows your numbers?
Book a free initial conversation with N Consultant Ltd.