Bookkeeping for used car dealers
Used car dealers buy from individuals and dealers, recondition stock and sell on finance and trade-ins. We track every vehicle from purchase to sale and help you apply the VAT profit margin scheme correctly where it's available.
Common challenges we fix
- Cars bought from individuals with no VAT invoice
- Reconditioning costs not added to each car
- Trade-ins and finance company settlements
- No view of profit per vehicle
What we handle for you
- Stock record for every vehicle by chassis number
- Purchase, reconditioning and sale costs per car
- VAT profit margin scheme applied where eligible, with records
- Trade-ins and finance settlements reconciled
- Profit per vehicle and stock ageing reports
- VAT returns and payroll
Frequently asked questions
What is the VAT profit margin scheme?
For eligible second-hand goods, such as used cars bought from individuals, a dealer can charge VAT on the profit margin instead of the full selling price. The scheme is optional and needs proper records for each vehicle.
Can you show profit per car?
Yes. We track the purchase price, reconditioning and selling costs of each car, so you see the real profit per vehicle.
Guides for UAE businesses
Bookkeeping for Small Business in UAE: Step-by-Step Guide
Eight simple steps to set up and keep bookkeeping for a UAE small business, with basic examples and the UAE-specific rules you need.
Read the guide →VAT Registration Threshold UAE: Who Must Register?
AED 375,000 mandatory, AED 187,500 voluntary: how the UAE VAT threshold works, how to calculate it and when you must apply.
Read the guide →Corporate Tax Registration Deadline UAE (Including New Companies)
New companies have three months to register for Corporate Tax. Here's how the deadline works, the AED 10,000 penalty and the waiver.
Read the guide →Get your books in order this month
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