VAT in the Retail Sector

Speaker:  Gwen Ryder  |  CPD Hours: 6.0

Price £575 plus VAT

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A retailer is any business that deals mainly with members of the general public, and which is not normally in a position to issue a full VAT invoice. Retailers range from a small corner shop to the major chains and all have many, and specialised VAT issues to address.

This course gives detailed guidance on the numerous VAT factors that affect retailers, and aims to provide a thorough grounding on the subject. A knowledge of basic VAT is assumed.


Retail schemes

  • Summary of the retail schemes
  • Choosing a retail scheme
  • Mixtures of schemes and separate accounting by different parts of the business
  • Changing and ceasing to use a scheme
  • Gross takings, what must be included and what you are allowed to deduct
  • Special transactions
  • In depth detail and working of all the schemes

Ensuring VAT is charged at the correct rate

Credit transactions, card handling fees

The retail export scheme

Food retailers and standard rated catering

Discounts, part exchange, and deposits

Dealing with vouchers-all varieties

Theft of goods and cash

Gifts of goods and the linked goods concession

Dealing with non-retail supplies

Exports and distance sales, including over the internet

Letting space and granting concessions to other retailers

Exempt supplies and partial exemption

Recovering VAT on costs

Completing the VAT return and common errors


Anyone in the retail sector who is responsible for correct VAT compliance and VAT reporting.

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