guineas breeze up & horses in training sale guineas ... - Tattersalls
guineas breeze up & horses in training sale guineas ... - Tattersalls
guineas breeze up & horses in training sale guineas ... - Tattersalls
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l notices to purchasers Guidance for Purchasers<br />
20. Value Added Tax (‘VAT’)<br />
20.1 Lots for Export outside the EU<br />
Where Lots are purchased for immediate export outside the European Union (‘EU’) the<br />
purchase may be zero-rated for VAT purposes provided that <strong>Tattersalls</strong> are s<strong>up</strong>plied with a<br />
satisfactory proof of export from the EU by the Purchaser or his shipp<strong>in</strong>g agent. Similar<br />
arrangements are available <strong>in</strong> certa<strong>in</strong> circumstances and subject to agreement on a Lot by<br />
Lot basis with HM Customs and Excise for export <strong>up</strong> to 12 months from the date of <strong>sale</strong>.<br />
If there is likely to be any delay whatsoever <strong>in</strong> the export<strong>in</strong>g of a lot, the purchasers are<br />
recommended to contact a <strong>Tattersalls</strong> representative at the Accounts Desk.<br />
20.2 Lots to be sent to another EU Member State<br />
Where Lots are purchased for despatch to another EU Member State the purchase may be<br />
zero-rated for VAT purposes provided the <strong>in</strong>voice is made out to a person registered for VAT<br />
<strong>in</strong> another Member State and the VAT number is lodged with <strong>Tattersalls</strong> and <strong>Tattersalls</strong> are<br />
s<strong>up</strong>plied with a satisfactory proof of movement from the UK.<br />
20.3 Lots rema<strong>in</strong><strong>in</strong>g <strong>in</strong> the UK<br />
VAT will be charged as <strong>in</strong>dicated <strong>in</strong> the catalogue or announced from the Auctioneer’s<br />
Rostrum. The VAT Registration Scheme for Racehorse Owners <strong>in</strong> the UK allows owners to<br />
reclaim VAT on purchases where the horse rema<strong>in</strong>s <strong>in</strong> the UK. The Scheme also allows<br />
owners to reclaim VAT on tra<strong>in</strong><strong>in</strong>g fees etc., where the horse is tra<strong>in</strong>ed <strong>in</strong> the UK. Racehorse<br />
owners are urged to take full advantage of this scheme.<br />
Breeders who are VAT registered can recover VAT on all rac<strong>in</strong>g expenses.<br />
Anyone hav<strong>in</strong>g any query on VAT is <strong>in</strong>vited to contact Accounts <strong>in</strong> the Ma<strong>in</strong> Sales Office.<br />
21. Payment for Purchases (Condition of Sale 5)<br />
All Lots are sold for payment by cash, credit/debit card, or acceptable bankers draft (Condition 5.1).<br />
R<strong>in</strong>g prices are quoted <strong>in</strong> <strong>gu<strong>in</strong>eas</strong>. A gu<strong>in</strong>ea represents Sterl<strong>in</strong>g £1:05.<br />
All <strong>in</strong>voices raised are <strong>in</strong> Sterl<strong>in</strong>g and all payments for purchases are due <strong>in</strong> Sterl<strong>in</strong>g.<br />
Prospective Purchasers may deposit funds with <strong>Tattersalls</strong> prior to a <strong>sale</strong>. If a Purchaser wishes<br />
to pay by any other method, arrangements must be agreed before bidd<strong>in</strong>g. Please complete<br />
a New Buyer Form (see, page 34) and send this to Accounts at least 7 days before the <strong>sale</strong>.<br />
Please ask your bankers to forward a reference direct to Accounts as your application cannot<br />
be considered until this is received.<br />
Please note all<br />
customers should<br />
contact the<br />
<strong>Tattersalls</strong> Accounts<br />
department prior to<br />
bidd<strong>in</strong>g <strong>in</strong> order to<br />
agree payment<br />
procedures.<br />
32<br />
<strong>Tattersalls</strong>’ bankers are:<br />
Lloyds TSB Bank PLC,<br />
Pall Mall/St James’s Street Branch,<br />
8/10 Waterloo Place, London SW1Y 4BE<br />
Sort Code: 30 00 08: <strong>Tattersalls</strong> Account No. 00575080;<br />
IBAN number GB 64 LOYD 3000 0800 575080<br />
B|C LOYDGB 21012 SWIFT CODE LOYDGB 2L<br />
Overseas Purchasers fund<strong>in</strong>g their purchases from non-sterl<strong>in</strong>g<br />
sources may wish to consider cover<strong>in</strong>g forward their Sterl<strong>in</strong>g liabilities.