John Pye auction

[Jackfath]

Has anyone ever bought from John Pye? Some bargains to be had.

https://www.johnpye.co.uk/auctions/?gclid=EAIaIQobChMIxPSesKik6wIVQWHmCh04IAcEEAAYASAAEgLHxPD_BwE

https://www.bbc.co.uk/news/business-53741321

 

[J_B]

Be very careful.

https://uk.trustpilot.com/review/www.johnpye.co.uk

 

[Squarebear]

Paying VAT on used stuff - is that a recent innovation?

 

[K23]

Paying VAT on used stuff - is that a recent innovation?

Any trading entity with a turnover of £85k or more has to register for and charge VAT whether that is for good or services.

For 2nd hand items (plus a few other things), there is something called the VAT Margin scheme where a VAT registered seller has to pay VAT @ 16.7% on the difference between the selling and buying prices. For example, if a dealer buys something for £1.5k then sells it for £2k, he would have to pay VAT @ 16.7% on the £500 difference = £83.33 so it's considerably less than the 20% added on to the £2k sales price = £400.

Hope this helps.

 

[Neath_Jack]

Yes, lots of items. Never had an issue with anything, including electrical stuff.

My sister in law, buys loads from there and bangs them out for a profit on eBay.