The above notice which deals bespoke retail schemes has been updated.

The notice explains how and when a business may need to agree a bespoke retail scheme with HMRC and updates and replaces the March 2006 version. Changes have been made to:

• reflect the amended turnover limit for use of the published retail schemes;
• include a suggested model framework for a bespoke retail scheme agreement;
• withdraw the requirement for bespoke retail scheme agreements to include annual reviews;
• introduce the option of signing up to a scheme gradually when full agreement with HMRC can't be reach initially; and
• explain the circumstances in which HMRC may permit estimation of Daily Gross Takings (DGT) adjustments.

For more information go to http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageVAT_ShowContent&id=HMCE_CL_000142&propertyType=document