The Retail  sector in the United Kingdom is a significant component of the country's economy , contributing substantially to its GDP  ​​and Employment. The UK retail industry encompasses a wide range of business, from large multinational chains to small independent shops, operating in various segment such as groceries , fashion , electronics, home, goods and many more.

Challenges !

Many Retail Businesses in the UK employ various methods to underreport or manipulate sales Data.
These Methods include the use of electronics sales suppression(ESS) software, utilizing secondary electronic point of sale (EPOS) systems, avoiding the use of EPOS systems altogether , and voiding sales, among other tactics.
This Practice is prevalent among retail businesses serving both business to consumer (B2C) and business to business (B2B) customers.

By Reporting lower or no Profits, these businesses effectively reduce or eliminate their tax liabilities.

Resolution.

Ticket/Receipt validation from customers and assigning them receipts to the retailer.
Gather and Sort out the sales data for as many retailers as possible.
Segregate the data based on the type of payments to create the better revenue reports.
Compare the stored retailer sales data to the sales data reported by the retailer to the HMRC

Get in Touch !

We'd love to hear from you ! Whether you have questions, partnership enquires, or just  want to chat about innovation at your work place , we are ready to connect. your ideas and feedback are the sparks that fuel our creativity --get in touch today 😊 

Email us
helpforthebusiness@gmail.com