17-12-2020, 04:49 PM
Regarding auction sales of books, auctioneers seem to have very differing interpretations of the VAT liability.
As Mike says, VAT is levied on commission, not the items.
Books are of course VAT exempt (but for how long?) However, I have come across specialist book auctions where VAT is NOT added to the commission, sometimes even on lots of general paperwork such as posters, timetables etc, which are most definitely not VAT exempt. There are other specialist book auctioneers who are adamant that VAT must be added to the commission, and a third category who add VAT to the commission as a matter of course but will instantly remove it if the "error" is pointed out!
Caveat emptor!
As Mike says, VAT is levied on commission, not the items.
Books are of course VAT exempt (but for how long?) However, I have come across specialist book auctions where VAT is NOT added to the commission, sometimes even on lots of general paperwork such as posters, timetables etc, which are most definitely not VAT exempt. There are other specialist book auctioneers who are adamant that VAT must be added to the commission, and a third category who add VAT to the commission as a matter of course but will instantly remove it if the "error" is pointed out!
Caveat emptor!