VATMARG04050 - 皇冠体育app auctioneers鈥� scheme: General principles of the auctioneers鈥� scheme

When an auction house invoices in its own name for goods sold at auction on behalf of a third party vendor, the goods are treated for VAT purposes as supplies both to and by the auction house.

In such circumstances, it is treated for VAT purposes as the principal in the supply of the goods.

As a principal it is entitled to either:

  1. use the margin scheme (as detailed in VATMARG02000);
  2. use the auctioneers鈥� scheme (providing the conditions in 皇冠体育app VAT Auctioneers鈥� Scheme are met); or
  3. account for VAT in the normal way.

皇冠体育app VAT guide and VTAXPER61500 give further information on the VAT rules for agents.