VAT Refund on Used Musical Instruments

1. Is there VAT on musical instruments?
2. What is the VAT rate on musical instruments?
3. Are old musical instruments worth anything?
4. What purchases are eligible for VAT refund?
5. Is there VAT on second hand guitars?
6. How much does it cost to import a guitar from USA?
7. What is assisted purchase scheme?
8. What is the rarest musical instrument?
9. What is the most expensive instrument in band?
10. What is the most rare instrument?
11. Can VAT be refunded?
12. Can I claim VAT on old invoices?
13. Can I claim VAT back on a van if I am not VAT registered?

Is there VAT on musical instruments?

Introduction. The supply of musical instruments is standard rated for VAT purposes. ... If the school sells the instrument to the pupil at a profit this is a standard-rated supply.

What is the VAT rate on musical instruments?

The purchase tax (VAT 20%) is chargeable at the point of purchase and refundable when the goods are taken from the UK.

Are old musical instruments worth anything?

While most instruments simply possess a resale price, many pianos and guitars in particular can be worth a great amount as collectible items; although less common, brass, percussion, woodwind, and mechanical instruments can also be worth investing in.

What purchases are eligible for VAT refund?

The golden rule when claiming VAT back is you can claim only on goods and services that are used wholly and exclusively for your business. This means office supplies, computers and equipment, transport costs and services such as accountancy all count if they are solely used for the purpose of your business.

Is there VAT on second hand guitars?

Second hand instrument sales by private individuals

The critical point to note about second hand sales by private individuals is that currently they do not attract VAT or duty regardless of where the instrument is sold or bought within the EU.

How much does it cost to import a guitar from USA?

This percentage is taken from the price paid for the item itself, so if the guitar you want to buy is $2500, then the Import Duty you will be charged is $87.50. 3.5% of $2500. You won't be charged the import duty for the shipping cost paid, only the value of the goods. Then there is import VAT.

What is assisted purchase scheme?

The Assisted Instrument Purchase Scheme (AIPS) enables pupils of local authority and academy schools to purchase musical instruments through their school net of VAT providing the sale to the pupil meets the criteria below. If the school sells the instrument to the pupil at a profit this is a standard-rated supply.

What is the rarest musical instrument?

Hydraulophone. The hydraulophone is one of the rarest musical instruments in the world.

What is the most expensive instrument in band?

Most Expensive Musical Instruments: Eric Clapton's Guitar, Violin or a Steinway Piano?

• #5: Accordion.
• #4: Double Bass.
• #3: Upright Piano.
• #2: Tuba.
• #1: Pipe Organ.
• #5: Violoncello, Gennaro Gagliano.
• #4: Viola, Gasparo Bertolotti da Salo.
• #3: OM-45 Martin Guitar.

What is the most rare instrument?

The viola da Gamba is one of the more rare musical instruments in the world.

Can VAT be refunded?

You can't get VAT refunds for large goods like cars. If you're an EU visitor, you can't get a VAT refund for services like hotel stays and meals. In some countries, your purchase must exceed a certain amount to be eligible for a VAT refund.

Can I claim VAT on old invoices?

If you've suffered VAT on goods that you still have on hand at the time you register for VAT, you can go back up to 4 years from the date of the invoice. For services the period 6 months. ... This means that in some cases a claim can be made for VAT on good purchased up to 8 years previously!

Can I claim VAT back on a van if I am not VAT registered?

Can I get it back? If you are not VAT registered then you will not be able to reclaim any VAT unless you are a visitor from overseas. If you are a VAT registered trader, then you will normally set off the VAT you have been charged by your suppliers against the VAT you have charged your customers.