How to Change the VAT Status of a Stock Vehicle

To change the VAT status of a stock vehicle, follow these steps:

1. Access the Purchase Status Tab: Navigate to the stock record of the vehicle in question and open the Purchase Status tab.

2. Check for Restrictions: Ensure that no sales invoice has been issued and that the vehicle has not been adopted. If these conditions are met, you can proceed.

3. Amend the VAT Status: Use the dropdown menu to select the appropriate VAT status.

   • Qualifying VAT Status: This option applies a 20% VAT charge on the sale of the vehicle.
   • Margin VAT Status: This option calculates VAT based on the profit margin of the vehicle.