Council Directive 2006/112/EC of 28 November 2006 on the common system of value added tax (c. 112)

TITLE XII U.K. SPECIAL SCHEMES

CHAPTER 4 U.K. Special arrangements for second-hand goods, works of art, collectors' items and antiques

Section 2 U.K. Special arrangements for taxable dealers

Subsection 1 U.K. Margin scheme

Article 323 U.K.

Taxable persons may not deduct from the VAT for which they are liable the VAT due or paid in respect of goods which have been, or are to be, supplied to them by a taxable dealer, in so far as the supply of those goods by the taxable dealer is subject to the margin scheme.