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Guide to Stock Takers

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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.

Stocktakers 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.

General stocktaking services include:

  • EPOS Stocktaking

  • Inventories

  • Licensed Trade Stocktaking

  • Retail Stock Auditing

  • Wet Stock Auditing

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 They will ensure that all Damaged Stock, Out Of Date Stock and otherwise Non Saleable Stock is not included in the stock count.

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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