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Scotchnthings
Double Malt Member
Joined: 11 Feb 2019
Posts: 144
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 Posted: Sun Jan 02, 2022 8:35 pm Post subject: Whisky auctions uk vat |
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| Hey, just noticed some of the lots on whiskyauctioneer say UK vat is Applied to the winning lot. Does this mean it changed from vat being Applied to buyers commission to the price of the whole lot ? [/code][/list] |
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Uncle Bobby
Double Malt Member
Joined: 06 Feb 2018
Posts: 92
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| Posted: Sun Jan 02, 2022 10:12 pm Post subject: Re: Whisky auctions uk vat |
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| Scotchnthings wrote: | | Hey, just noticed some of the lots on whiskyauctioneer say UK vat is Applied to the winning lot. Does this mean it changed from vat being Applied to buyers commission to the price of the whole lot ? [/code][/list] |
Somewhere in the small print it explains that lots which have the UK Vat logo are from businesses/companies which are Vat registered, as opposed to private individuals selling bottles. |
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Scotchnthings
Double Malt Member
Joined: 11 Feb 2019
Posts: 144
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| Posted: Tue Jan 04, 2022 8:44 pm Post subject: Re: Whisky auctions uk vat |
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| Uncle Bobby wrote: | | Scotchnthings wrote: | | Hey, just noticed some of the lots on whiskyauctioneer say UK vat is Applied to the winning lot. Does this mean it changed from vat being Applied to buyers commission to the price of the whole lot ? [/code][/list] |
Somewhere in the small print it explains that lots which have the UK Vat logo are from businesses/companies which are Vat registered, as opposed to private individuals selling bottles. |
Gotta love small print  , bit funny that the vat also falls on the buyer though, cheers for that! |
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Jimny14
Single Malt Member
Joined: 11 Oct 2020
Posts: 37
Location: North lancashire
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| Posted: Thu Jan 06, 2022 6:08 pm Post subject: |
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| I thought VAT was always paid by the buyer (not just in auctions) thought that was how it worked. |
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torcross
Double Malt Member
Joined: 28 Jan 2014
Posts: 168
Location: WIRRAL
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| Posted: Thu Jan 06, 2022 6:50 pm Post subject: |
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| Jimny14 wrote: | | I thought VAT was always paid by the buyer (not just in auctions) thought that was how it worked. |
Not in auctions unless specified as Whisky Auctioneer do. If you look at 'traditional' auctioneers like Bonham's, Christies etc any VAT applicable on the hammer price is shown with a dagger symbol (âœï¸Ž) next to the appropriate lot. |
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webdunk
Triple Malt Member
Joined: 04 Sep 2017
Posts: 226
Location: Inverness
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| Posted: Fri Jan 07, 2022 4:17 pm Post subject: |
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| Jimny14 wrote: | | I thought VAT was always paid by the buyer (not just in auctions) thought that was how it worked. |
You are correct. If an item is VAT-able then it is the buyer who pays.
_________________
Inverness Whisky
@in5tadram |
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