Seek to re-instate the Marginal VAT scheme between GB & EU on Second Hand Goods

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Seek to re-instate the Marginal VAT scheme between GB & EU on Second Hand Goods

Petition Details

We want Government to agree with the EU to re-instate the Marginal VAT scheme for second hand goods between the EU and the UK.

Businesses trading in second hand goods are being hit with a change in taxation rules that puts UK-based operations at a massive disadvantage to competitors in the EU.

Additional Information

Since the UK is no longer included in the margin scheme, a pre-owned item selling for £15k would now attract VAT in the EU.

Since all remaining 27 member states of the EU still offer the margin scheme, a customer buying the aforementioned item from any trader based in the EU will pay around £16k for the watch, but a UK-based business selling to an EU-based customer would have to charge C£18k, therefore ruling out trade of 2nd hand goods with the EU and potentially forcing businesses into bankruptcy.

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