Accountants for used car dealers and motor traders
Used car dealers live and die by the VAT margin scheme and the stock book. We know both, and we are building a dealer platform for our clients.
What we look after for you
- Second-hand margin scheme for VAT: on eligible used cars you pay VAT only on your margin (the difference between buying and selling price), not on the full sale price
- The margin scheme applies to cars bought without reclaimable VAT, for example from private sellers, other dealers selling under the scheme, or part-exchanges; no VAT is shown on your sales invoices
- A stock book that meets HMRC margin scheme record-keeping rules, with purchase and sales invoices for every vehicle
- Auction purchases from Manheim, BCA and others, and qualifying cars where VAT is charged in full
- Finance commissions and warranty income treated correctly
- Our dealer platform: stock, offer sheets, invoices and margin VAT in one place
Services that fit
VAT returns
VAT registration, Making Tax Digital VAT returns and VAT scheme advice for businesses in Stoke-on-Trent.
Industry platforms for our clients
Online stock, sales and VAT platforms built for our clients’ trades, starting with motor dealers and tyre shops.
Limited company accounts
Year-end accounts and Corporation Tax returns for limited companies, filed with Companies House and HMRC on time.
Management accounts
Monthly or quarterly management accounts, KPIs and cash-flow reports so you can run your business on up-to-date numbers.
Fully digital: sign your engagement letter, send records and talk to your accountant from anywhere. A real KiQi accountant who knows your trade handles your file.