On 05/10/2020 15:42, bert wrote:
But he hasn't got a vat number so the whole thing is just a cover for
adding an extra 20% on to the retail price.
--
bert

When he buys it costs him the sale price plus the VAT. He applies his
mark-up percentage to that figure, because that figure is how much he's
had to lay out. What's wrong with that? The various elements of his
buying price are irrelevant to him, and that includes taxes.

Bill