Is Foffa Bikes really doing over £70k per year in sales? Given that they are buying most of their stock from non-registered individuals, it seems odd to have registered unless it was absolutely forced on them.
Oh, and second hand dealing should be done under a margin scheme even if you are VAT registered, so you only charge VAT on your mark up.
Is Foffa Bikes really doing over £70k per year in sales? Given that they are buying most of their stock from non-registered individuals, it seems odd to have registered unless it was absolutely forced on them.
Oh, and second hand dealing should be done under a margin scheme even if you are VAT registered, so you only charge VAT on your mark up.