VAT Receipt Question

[AndyP]

Hi

I am intrigued to know why the majority of retail shops do not give a VAT receipt as a matter of course. Our companies (online) generate VAT receipts for every order but I continue to be surprised as to why what seems like the majority of b&m retailers do not do this. I was at Argos yesterday to buy something for the business and asked for a VAT receipt. Whilst they provided one it took something like 15 minutes of people running around looking for a receipt book, having to work out what the VAT was, entering it in the correct format etc. It just reminded me how this situation almost seems to be the norm and I genuinely don't know why. Am I missing the obvious? It strikes me that this situation would be easily overcome if a VAT receipt was their "standard" till-generated receipt.

 

[KM-Tiger]

... retail shops ...

The vast majority of their customers will be consumers not reclaiming VAT, and there is no requirement to provide a VAT invoice to consumers.

I do agree though, it would be better if it was the norm, like it is with GST in the USA. We would then see clearly every time we bought something VATable, just how much tax we are paying.

 

[AndyP]

Yes, I appreciate that its not a legal requirement for retail customers but that's not really the point. What I don't understand is why not do it anyway? Even if one sale in 100 is b2b and a VAT receipt is required, why waste so much time trying to find receipt books, entering the break out correctly etc along with all the tutting as though you are causing some major headache when if the calculation was included in the receipt in the first place it would be job done regardless of who the customer is. We do it as a matter of course. I just don't understand why others find this so alien/difficult/unnecessary? There must be a reason surely?

 

[AndyP]

...so nobody knows? I can't really believe that it is just to make life simple at the till, as it doesn't. There has to be a business reason, good or bad, legitimate or questionable... I am genuinely intrigued.

 

[Spongebob]

The worst offender is B&Q.

A large proportion of their sales are B2B yet their till recepts carry no VAT number and so technically one cannot claim back the VAT element.

When I was VAT registered I used to put them through anyway. My accountant shared my view that it was up to an inspector from HMRC to challenge them rather than me to mess about getting proper VAT receipts every time I bought a pack of screws from B&Q.

UPDATE!!!

I've just examined a B&Q till recept and found their VAT no printed on the back in tiny characters. Does this make it a valid VAT receipt?

 

[AndyP]

UPDATE!!!

I've just examined a B&Q till recept and found their VAT no printed on the back in tiny characters. Does this make it a valid VAT receipt?

I'm not an expert by any means but I tend to think that it doesn't. My understanding is that for it to be a valid VAT receipt it has to show the VAT element broken out so that you can see exactly what has been paid in tax. A VAT number alone isn't enough.

 

[MyAccountantOnline]

...

I've just examined a B&Q till recept and found their VAT no printed on the back in tiny characters. Does this make it a valid VAT receipt?

It depends how much it is for if less than £250 yes. This explains all - http://www.hmrc.gov.uk/vat/managing/charging/vat-invoices.htm

 

[watfordboy]

I've read the guidance and wonder how, if a simplified VAT receipt is given for a single item, one knows how much VAT to reclaim given say a general description of the item. Presumably a list showing the vat for a screw is available on HMRC's website!

 

[quikshop]

I find this such an annoyance... every time I fill my car up I have to request a VAT receipt, then repeat parrot-like;

"Just the VAT receipt please."

"No, I don't need both receipts, just the VAT receipt please."

"Thanks but you can keep the other receipt / promotional offers, just the VAT receipt please."

"I don't care if you have to give me both receipts, I don't have to take both. Just the VAT receipt please."

Ad nauseum...