Second Hand Used Cars

Car dealers of used cars have the option to apply the second hand Gross Margin Scheme for VAT Purposes.

This is where 1/6 is taken of the profit on the sale of the car rather than having to charge full standard VAT of 20% on sale

We specialise in this trade in being able to do the book keeping or assist in setting up the book keeping to trade smoothly.

Self Assessment 30 December

Self-Assessment Tax return

With only 2 weeks remaining of the year there is still some time to file Self-Assessment Tax Returns before 30 December 2024

If the Tax due is ⬇️ £3,000

HMRC can adjust the following years Tax Code if you hold an Employment Job No …

Making Tax Digital: SA

Making Tax Digital (MTD)

5 April 2026

Quarterly reporting requirements if 👇

Sole Trader or Rental Gross Income is 👆 £50k

We would advise other Professionals and Taxpayers to learn further about the changes and consider the various softwares, which, will be MTD …

Employment History

Employment

There are some Taxpayers who have to have a Self Assessment Tax return completed on their behalf or they can complete and file on their own through either 👇

HMRC Government Gateway Account

Third Party Software

We would advise to use an Accountant …

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Second Hand Used Cars

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