How to post a VAT reclaim under the Second-Hand Motor Vehicle Payment Scheme
From Catalyst
Summary
This article explains how to record a HMRC payment for the second-hand motor vehicle payment scheme.
The second-hand motor vehicle payment scheme allows you to claim a VAT-related payment if you buy an eligible second-hand motor vehicle in Great Britain and:-
- Move that vehicle to Northern Ireland with the intention to resell it in Northern Ireland or to the EU.
- Export that vehicle to the EU with the intention to resell it in the EU or to Northern Ireland.
This applies to customers in NI or groups with branches in the UK.
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