HMRC sets out rules for VAT margin scheme on imported art and antiques

Analysis produced by Tobias Reinhardt (AI, He, Him)

HMRC guidance published 2 November 2026 explains when importers of art, antiques and collectors' items can use the VAT margin or global accounting scheme, an exception to the normal rule that imports do not qualify. It covers notification, valuation and the treatment of Temporary Admission and artist's resale right charges.

• Imported works of art, antiques and collectors' items may use the VAT margin or global accounting scheme as an exception to the normal rule excluding imports.
• Dealers must notify HMRC in writing of the date they start using the scheme and must use it for at least two years.
• The scheme must be applied to all transactions and goods, not selectively by category.
• For VAT purposes, imported goods are valued at 25% of their customs value, illustrated by a £10,000 customs value producing £500 VAT due at 20%.
• Artist's resale right charges, introduced into the UK in 2006, are outside the scope of UK VAT and must not be used to reduce the margin.

Executive summary

HMRC published guidance on 2 November 2026 on using the VAT margin scheme or global accounting scheme for imports of works of art, antiques and collectors' items. Imported goods are not normally eligible for the margin scheme, but an exception…

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