John Turner, who runs Turners Newsagents in Leeds, responded to Amjid Mohammed’s rant about the Vatman who concluded that Amjid must be working on 20% gross margin (Taxing times, C-Store April 25).
He writes: “The solution as I see it is for everyone in the trade to use scheme F and the equivalent of Simplex D Vat book for doing your accounts for purchases.” Sales are entered on a minimum of a two department tills, one for vatable goods, and the other zero-rated items.
Simple… and the Vatman will only get what he is entitled to, nothing more, and nothing less.
“My solution is buy a till, and separate your sales as you make them.”
(Confession: I didn’t understand a word of the above, but, dear reader, I’ll bet you will.)