VATMARG04300 - The auctioneers鈥� scheme: Sales on behalf of pawnbrokers

Auctioneers may use the scheme for the sale of eligible goods on behalf of a pawnbroker where the pledgor is not VAT registered and the pawn value is greater than 拢75.

The auctioneer will need to obtain confirmation from the pawnbroker that the pledgor is not VAT-registered and retain evidence for assurance purposes. Information about use of the margin scheme by pawnbrokers can be found in VATMARG13550.