Guide to Stock Takers
Stock takers aim to cause the minimum
amount of disruption to clients and customers alike thus allowing
businesses to trade as normally as possible. Stock Takers can represent both or either the vendor or
purchaser in a valuation stock-take. This can also be termed as "change
of ownership" there must be a final figure agreed by all parties before
the Stock Takers leave.
identify all areas containing stock, which requires counting (including
consignment stock) and perform a thorough stock check at retail value
and provide a retail value and cost figure on the day.
Stock-takes are carried out on a 100% count basis. Everything is counted
and nothing is guessed. The final figure will be written into a legally
binding agreement and signed by all parties.
It is a Stocktakers duty to provide a
fair valuation for both vendors and purchasers and can act for either,
or both parties. They will ensure that all Damaged Stock, Out Of Date
Stock and otherwise Non Saleable Stock is not included in the stock
When working between parties, fees are
usually split equally between the vendor and the purchaser. This kind of
stock-take is usually taken on the day of completion of a business
purchase or a date agreed by all parties involved. The fees are tax
deductible and stock valuation certificates are accepted by all Tax and
VAT inspectors. An independent professional stock valuation is essential
for you to produce accurate end of year financial accounts.
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