Commentary

B5.625 Check traders—basis of computation

Business tax
Business tax | Commentary

B5.625 Check traders—basis of computation

Business tax | Commentary

Check traders

B5.625 Check traders—basis of computation

HMRC have agreed, subject to the approval of the General Commissioners concerned, to accept a special method of computation of check traders' profits. This method1 involves the adoption of all of the following:

  1.  

    •     the full amount of the service charge is to be brought to account when a check is issued

  2.  

    •     discount is to be brought to account at the time a check, or part of a check, is used by a customer, or, if this would give rise to practical difficulties, at the time the shopkeeper normally renders his

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