Les Howard highlights the VAT issues that arose during a recent HMRC investigation.
HMRC have long targeted retail businesses, usually challenging their sales figures. While major retail chains operate sophisticated EPOS systems (which are not immune from error, of course), many independent retailers still rely on less modern technology. In a recent telephone conversation I had, a prospective buyer of a small health food retail business commented that the daily sales were recorded with pen on paper (no MTD then!).
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