Auctioneers Margin Scheme

Revenue eBrief No. 205/19

Update to VAT Tax and Duty Manual

VAT Tax and Duty Manual, the guidance on the Auctioneers Margin Scheme has been updated.


2. Auction margin scheme

The auction margin scheme applies to certain works of art, collectors’ items, antiques or movable second-hand goods which are sold by an auctioneer at a public auction. The scheme provides that where those goods are sold by an auctioneer, the auctioneer is liable for VAT on the profit margin. The goods concerned are referred to as “auction scheme goods”.