Britannia AuctionsIs VAT charged on auction sales?
VAT is charged where it applies and shown separately on the buyer's invoice. Whether it applies to the hammer price depends on your VAT status and the type of lot, and the sale statement shows how it has been accounted for. If you are unsure of your own position, check it with your accountant before the sale.
Related questions
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- How a commercial asset auction works
A stage by stage account of an online timed auction for business assets. It covers the asset schedule, cataloguing, viewing days, how bidding closes, buyer's premium and VAT, collection and how you get paid.
- Auction or private treaty: which route to choose
Auction gives you a fixed date and an open market. Private treaty gives you a negotiated price and privacy. This guide sets out when each route suits, what you give up with each, and why many sales use both.
- Preparing machinery and equipment for sale
What to do before viewing day. Keep the machines that can be run safely available to demonstrate, isolate the rest, clean but do not repaint, find the tooling and manuals, and sort out access for removal.
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