VAT in Retail business

[perplex]

Hi,

I just had a query which may be silly.

For example: when a supplier states that there is a certain gross profit margin on a product assuming that the product is sold at the RRP, does this include the VAT that will be paid to HMRC or is the VAT percentage still to be deducted?

Thanks

 

[David Griffiths]

Hi,

I just had a query which may be silly.

For example: when a supplier states that there is a certain gross profit margin on a product assuming that the product is sold at the RRP, does this include the VAT that will be paid to HMRC or is the VAT percentage still to be deducted?

Thanks

I would expect it to take the VAT into account.

Why not do the sums and see for yourself!

 

[elaine@cheapaccounting]

Hi,

I just had a query which may be silly.

For example: when a supplier states that there is a certain gross profit margin on a product assuming that the product is sold at the RRP, does this include the VAT that will be paid to HMRC or is the VAT percentage still to be deducted?

Thanks

would it be best to ask the supplier :|:|

 

[perplex]

would it be best to ask the supplier :|:|

I'm planning to start a convenience store business later this year, and was just wondering about this. I'll ask the franchise guy next time.

Thanks for the replies .