VAT on Second hand Goods

Accounting
1

I have recently purchased goods second hand, should I declare second hand goods VAT exempt or zero rated?

Thanks, Eddie

2

Don’t mark it exempt, just pick the appropriate rate for the VAT you’ve been charged on the invoice, or “no VAT” if you haven’t been given a VAT invoice (e.g. if it’s been sold to you under the margin scheme).

3

I Ian

I paid £50 to private seller of the goods and wasn’t charged VAT, so presumably should rate it as zero?

Thanks, Eddie

4

Regardless of whether the goods are new or second hand the VAT should be recorded at the rate on the invoice, and if the goods are VAT rated the seller should also be providing you with a VAT breakdown/invoice. Your question seems to be more “has this item got VAT” than “how do I record it”.