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Contents

Official guidance
VAT Margin Schemes

VATMARG03000 · Global accounting

  • VATMARG03050 · What is global accounting?
  • VATMARG03100 · What goods can be sold under global accounting?
  • VATMARG03150 · Purchase and sales invoices for global accounting
  • VATMARG03200 · Bulk purchases
  • VATMARG03250 · Collections
  • VATMARG03300 · Treatment of scrap and items broken up for use as spares
  • VATMARG03350 · Global accounting records and accounts
  • VATMARG03400 · What if items are sold outside the scheme?
  • VATMARG03450 · Opening stock and global accounting
  • VATMARG03500 · Can global accounting be used retrospectively?
  • VATMARG03550 · Negative margins
  • VATMARG03600 · Use of global accounting by pawnbrokers
  • VATMARG03650 · Leaving the global accounting scheme
  1. Global accounting: contents
  2. Global accounting: Use of global accounting by pawnbrokers

VATMARG03600 | Global accounting: Use of global accounting by pawnbrokers

From HM Revenue & Customs · VAT Margin Schemes

Pawnbrokers may use global accounting for sales of unredeemed pawns to which they have taken title. VATMARG13550 gives more details about the treatment of particular transactions. Notice 718 The Margin scheme and global accounting gives guidance to pawnbrokers.

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