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Basic requirements

Businesses can use the POS scheme if they:

1. •

   make retail sales

2. •

   are unable to account for VAT using the normal VAT accounting rules

3. •

   have a total annual retail turnover, excluding VAT, of not more than £130m, and

4. •

   can produce a fair and reasonable result using this scheme

Businesses are required to use the POS scheme if they meet the above requirements and they only supply goods or services that are liable to one VAT rate (eg all sales are liable to VAT at either the standard or reduced rate). If the business makes supplies that are liable to VAT at two different rates and