I have a client who has a small garage which repairs agricultural machinery. He purchased and sold a couple of tractors in 2017 (sale proceeds €25k). If the full sale price of the tractors are included in his turnover his turnover for the calendar year would be €48k. He was not registered for VAT as he never reached €37,500 previously and most of his clients are not VAT registered. The tractors are secondhand and the margin scheme would have applied to them if he were VAT registered. Does the VAT Turnover threshold for registration include the full value of the tractors sale proceeds or just the profit on them? Can he include a VAT credit being due to my client on those tractors he purchased from non registered farmers when looking at reducing the his turnover figure for the threshold? I believe VAT on stock purchased for resale can reduce the turnover when comparing to the threshold.