This paragraph examines the calculation of daily gross takings (DGT) in the context of retail schemes. See also V3.556 which introduces the concept of DGT.
The till roll or other record of sales together with any necessary additions constitutes DGT. It is this figure (and not simply the cash received into the till) which must be used when calculating output tax due under the retail scheme1.
The following must be included in DGT at the time they are received from cash customers2:
- Ìý
•ÌýÌýÌýÌý cash
- Ìý
•ÌýÌýÌýÌý cheques
- Ìý
•ÌýÌýÌýÌý payments by debit or credit cards
- Ìý
•ÌýÌýÌýÌý electronic cash payments
- Ìý
•ÌýÌýÌýÌý the face value of gift, book and other vouchers redeemed (except vouchers redeemed for cash3)
- Ìý
•ÌýÌýÌýÌý any other payments for retail sales
- Ìý
•ÌýÌýÌýÌý the value of any payment in kind for retail sales
Adjustments to daily gross takings
Where any adjustments to DGT are required, retailers must maintain a record accordingly. These adjustments
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