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Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Order)

This Order amends the Value Added Tax (Cars) Order 1980 in respect of the tax to be charged on supplies of used motor cars.

The 1980 Order requires dealers to keep certain records if their supplies are to qualify for the margin scheme relief.

The amendment allows a degree of relief to car dealers who have not kept all the necessary records provided specified records are available either in relation to the acquisition of the vehicle or in relation to the sale of the vehicle, and the Commissioners consider that the mark-up achieved does not exceed 100 per cent.