VAT and S/H goods

Do you have to pay VAT if you buy something from a high street shop , but the item is s/h, vintage, antique call it what you will. The reason that i ask is I've seen some really nice rings in a jewelers in a nearby town. I never quite got around to buying my wife an engagement ring and as christamas is just around the corner an impulse buy is looming (we've been married nearly 17 years ).
My wife honestly really likes the look of s/h Jewellery, I think the history and the 'i wonder where this ring has been' is kinda appealling too. i just like the thought of getting more for my money compared to buying new from a high street chain.

Any advice ?

 

If the company/shop is VAT registered then you will have to pay VAT regardless of wether the item is second hand or not.

If the company is not VAT registered then you don't have to pay anything.

 

realy! you meen it will be free:MILD:

 

I think you only pay VAT on the trader's profit.

See http://www.hmce.gov.uk/forms/notices/718.htm

Paul

 

The VAT is 17.5% the cost of the goods. Not sure about second hand goods though.

I know for new goods and the service industry that is the case. If you have a VAT registered company though you can just claim the VAT back.

When I setup my own multimedia company I shall be able to get a nice HIFI system with a 17.5% discount! I need an expensive HIFI as it looks good on clients and it also allows me to hear the sounds I am editing better (at least that is what I tell customs and exise )

 

The Gov, introducted this a few years back for used cars you pay VAT on the profit margin, so if a car dealer had a mark up of £1k, the vat would be INCLUSIVE of this figure NOT plus. Wm

 

Can of worms

Chaps

VAT is the worst example of how a tax is administered.

The Customs and Excise Dept is split into 21 regions and each has a slightly different interpretation of the rules on second hand goods. This is strange but true.

Some say you pay VAT on second hand goods, some say you pay VAT on the dealers margin. Is it not reasonable to clear up this confusion. The same applies to VAT on printed matter. Some areas tax it, some don't. Evidently, if a leaflet is deemed educational, it is tax excempt. Each region has a different interpretation of what is educational.

A mad state of affairs.

So there is no answer.

Regards

Mick

 

Thanks for all the inputs folks.
I spoke to the nice ladies in the jewellers. Basically i wanted to know whether there was any advantage in buying a s/h ring compared to a new one, regardless of the VAT situation. i'll be doing a trawl of the local Pawn shops and S/H Jewellers tomorrow , it also helps to know what size you are after too. ( Doh !!).

Impulse purchases on Christmas Eve you just can't beat 'em, .