Customs is increasing the threshold for compulsory bespoke VAT retail schemes from £10 million to £100 million annual turnover, it was announced in 2000.
A retailer with an annual turnover below this new limit may still apply for a bespoke scheme if the existing schemes are either impractical or do not give a fair and reasonable result.
Bespoke systems are compulsory for the largest retailers to ensure that VAT is accounted for fairly and easily according to the circumstances of the particular retailer. In practice, most bespoke schemes are variations on the standard schemes.
[2000]