Difference between revisions of "How do I deal with the VAT on static caravans?"
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== Summary == | == Summary == | ||
Removable contents, when supplied with or as part of a zero-rated caravan, are standard-rated, unless those contents are of a kind ordinarily incorporated by builders as fixtures in new dwellings. The rules surrounding this area are detailed on the HMRC website, and we would encourage you to read these carefully. Currently, searching for {{DataValue|Caravans}} or {{DataValue|701/20}} on the HMRC website will bring up the relevant articles, but make sure that you are always up to date with the latest legislation. | Removable contents, when supplied with or as part of a zero-rated caravan, are standard-rated, unless those contents are of a kind ordinarily incorporated by builders as fixtures in new dwellings. The rules surrounding this area are detailed on the HMRC website, and we would encourage you to read these carefully. Currently, searching for {{DataValue|Caravans}} or {{DataValue|701/20}} on the HMRC website will bring up the relevant articles, but make sure that you are always up to date with the latest legislation. | ||
Revision as of 14:13, 30 May 2019
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This article or section is under review. Be aware: Content may change as the document is reviewed. |
Summary
Removable contents, when supplied with or as part of a zero-rated caravan, are standard-rated, unless those contents are of a kind ordinarily incorporated by builders as fixtures in new dwellings. The rules surrounding this area are detailed on the HMRC website, and we would encourage you to read these carefully. Currently, searching for 'Caravans' or '701/20' on the HMRC website will bring up the relevant articles, but make sure that you are always up to date with the latest legislation.
More Information
When adding a static caravan to unit stock, if it qualifies for V.A.T. on removable contents, on the [Unit Properties] tab, in the "R.C. V.A.T?" field, select 'Y'. Platinum will then calculate the V.A.T. accordingly.
There are two methods for the calculation of VAT on used static caravans. It is vital when adding or amending information about these units that the build year is accurately recorded as static vans built before 2013 have a completely different method of VAT calculation to those built later. If the build year is not specified on the unit record then it will be assumed to be built after 2013 for VAT purposes.
See also
