An antiques dealer buys a table from a member of the public for 2,000. The dealer spends
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An antiques dealer buys a table from a member of the public for £2,000. The dealer spends a further £750 (plus VAT) on restoration work and then sells the table to a customer for £5,000. Compute the amount of output tax which must be accounted for in relation to this sale, assuming that the table is sold through the margin scheme.
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