Summary of the retail schemes

By Tolley

The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:

  • Summary of the retail schemes

The following provides a brief overview of the main requirements of each retail scheme. Businesses with a retail turnover exceeding £130m are required to use a bespoke scheme if they cannot use standard VAT accounting. See the Bespoke retail schemes guidance note.

RequirementsPoint of Sale SchemeApportionment 1Apportionment 2

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