VAT margin scheme
VAT margin scheme records, done right
Under the VAT margin scheme you pay VAT on your margin, not the full sale price — but only if your records are correct. HMRC can refuse the scheme on a single faulty entry and charge VAT on the full selling price. Garage keeps the stock book correctly, automatically, for every car you sell.
- Purchase and sale records with seller and buyer details
- Margin and VAT on the margin calculated automatically
- CSV and PDF exports for your accountant or HMRC
- Sold records locked for a defensible audit trail
- Captured as you trade, not reconstructed later
A compliant stock book per vehicle
For each car, Garage records the purchase date, purchase price and seller details, then the sale date, sale price and buyer details. These are the entries HMRC expects to see, captured at the point you actually do the deal rather than reconstructed months later.
Margin and VAT calculated for you
The margin (sale price minus purchase price) and the VAT due on that margin are worked out automatically. No formulas to maintain, no risk of a transposed figure quietly throwing off your return.
Records you can hand to your accountant
Export your stock book to CSV or PDF whenever you need it — at quarter end, at year end, or when HMRC asks. The format is built to be accepted first time, without your accountant having to correct it.
Locked once sold
A sold vehicle's margin scheme record is a legal document, so Garage locks it against changes. That protects the integrity of your stock book and gives you a clean, defensible audit trail.
Frequently asked questions
- What is the VAT margin scheme?
- It lets eligible dealers pay VAT only on the difference between what they paid for a vehicle and what they sold it for, rather than on the full sale price. Read our full guide to the VAT margin scheme for the detail.
- What happens if my records are wrong?
- HMRC can deny the scheme on a faulty entry and charge VAT on the full selling price of the vehicle — a costly mistake. Keeping a complete, accurate stock book is what protects you, which is exactly what Garage automates.
- Can I export my records?
- Yes. You can export your full stock book to CSV or PDF at any time for your accountant or for an HMRC inspection.
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