VAT - notice re bidding in our North Mymms Park auctions

We will invoice under the standard VAT rules and all lots in this auction will be sold VAT inclusive.  This means that the hammer price will include VAT.  On top of hammer, will be added buyer’s premium at 22% of hammer, VAT on buyer’s premium and (where relevant) Artist Resale Rights on certain paintings and other original works of art. 

In practice, this means that the price payable for lots will be no different to that which you will pay under our usual auction invoicing.  However, certain buyers may be able to recover VAT, as set out below.

If you are:

A non VAT registered UK or EU buyer - no VAT refund is possible

UK VAT registered buyer – subject to HMRC’s rules, you can reclaim the VAT on hammer and on buyer’s premium through your own VAT return

EU VAT registered buyer – If you provide us with your EU VAT number we will not charge VAT on the buyer’s premium.  We will also refund the VAT on the hammer price if you ship the lot from the UK and provide us with proof of shipping within three months.

NON EU buyer – if you export the lots within three months, and meet the necessary conditions set by HMRC, we will refund VAT on hammer and buyer’s premium.  Please ask us for details if required. 

Books in the auction will be sold zero-rated and the hammer price will be the net value for VAT purposes.