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Contents

Official guidance
VAT Retail schemes guidance

VRS4000 · Mechanics of the standard retail schemes

  • VRS4050 · Definition of daily gross takings (DGT)
  • VRS4100 · Adjustments to DGT
  • VRS4150 · Till shortages and excesses (unders and overs)
  • VRS4200 · Theft, leakage and shrinkage
  • VRS4250 · Weekly summary of DGT
  • VRS4300 · Tax point irregularities caused by cashing up early
  • VRS4350 · DGT and coin operated machine takings
  • VRS4400 · DGT and newsagents/small retailers
  • VRS4450 · Bad debt relief
  • VRS4500 · Incorrect liability applied to supplies
  • VRS4550 · Expected selling prices (ESPs)
  • VRS4600 · Method of setting ESPs
  • VRS4650 · Mixture of methods of setting ESPs
  1. Mechanics of the standard retail schemes: Contents
  2. Mechanics of the standard retail schemes: Mixture of methods of setting ESPs

VRS4650 | Mechanics of the standard retail schemes: Mixture of methods of setting ESPs

From HM Revenue & Customs · VAT Retail schemes guidance

We will normally expect only one method of setting ESPs to be used by a retailer, but recognise that a mixture of methods may be acceptable provided:

  1. the same mix of methods is used consistently

  2. the conditions in Notice 727/5 Retail schemes: How to work the direct calculation schemes are satisfied and

  3. the overall result is fair and reasonable.

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