Steve68

Hello, I have a small limited company that I run in my spare time that is not registered for VAT as turnover is below the threshold. I wish it was higher but that's another story. I am thinking about running some occasional specialist auctions through the company that would, if I was VAT registered, fall within the auctioneers scheme (VAT notice 718/2) i.e. VAT chargeable on the margin/services rather than the hammer price. I will only accept qualifying sellers. The auctioned goods sale costs are likely to be high enough to put me above registration threshold but if I only consider the service costs I would still be below the registration threshold. Can you confirm that if I account for auctions *as if* I were using the VAT Margin Scheme I only need to consider margin cost when considering whether VAT registration is compulsory rather than hammer price? Many thanks Steve