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All retail schemes work by applying the appropriate VAT fraction(s) to DGT that are liable to VAT at the standard or reduced rates in order to establish the amount of VAT due. It is therefore necessary for a business to keep a record of daily gross takings. This term can be misleading because, for retail scheme purposes, daily gross takings is not simply a record of payments received or cash in hand on any particular day but is a record of all of the supplies made that particular day. The record of daily gross takings can be a listing made from copies of sales vouchers but will normally be based on a till roll.

This guidance note provides an overview of the items that should be included in or excluded from the DGT figures for businesses using a retail scheme.

Note that the items that are included / excluded from the DGT may differ for each of the standard retail schemes so this guidance note should be used in conjunction