Value Added Tax Consolidation Act 2010 section 22

Special rules in relation to supplies of goods

Section 22 sets out special rules for how VAT applies to supplies of goods made by agents or auctioneers, finance houses repossessing goods, and liquidators or receivers disposing of business assets.

• When an auctioneer or agent sells movable goods on a commission basis, the transaction is treated as a simultaneous purchase and sale by the agent, with a single time of supply
• Where a finance house repossesses goods from a customer who has defaulted on a hire purchase agreement, the subsequent disposal of those goods is a VAT-able supply
• Where a liquidator, receiver or other person disposes of an accountable person's business assets to settle a debt or wind up a company, the disposal is deemed to be a supply by the accountable person in the course of business
• The liquidator or receiver rule extends to disposals of interests in immovable goods (land and buildings)