Value Added Tax

Summary of the retail schemes

Produced by Tolley
  • 09 Feb 2022 21:30

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

  • Summary of the retail schemes

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 2Direct Calculation 1Direct Calculation 2
Use for supplies of services?YesNoNoYes, if they are liable to VAT at a different rate from the minority supplies madeYes, if they are liable to VAT at a different rate

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