Revenue have published a Guide on how VAT and VRT should be paid and accounted for when buying or selling new or second-hand motor vehicles.

The VAT and VRT procedures involved when buying and selling motor vehicles may vary depending on the status of the buyers or sellers.

These may be motor dealers, traders buying or selling their own business vehicles, motor auctions, private individuals, etc.

There are also special procedures for transactions involving second-hand vehicles, or vehicles being transported between countries as part of a purchase or sale. As well as vehicle sales, VAT is also due on any work on motor vehicles, such as repair and maintenance, and on the hire and leasing of vehicles.

How VAT and VRT should be paid in different transactions, and the circumstances in which these taxes may be reclaimed, are set out in this guide.

The Guide is available at http://www.revenue.ie.