During the quarter to 31 December 2020, a taxable person Standard-rated supplies (including VAT) Zero-rated supplies Exempt
Fantastic news! We've Found the answer you've been seeking!
Question:
During the quarter to 31 December 2020, a taxable person Standard-rated supplies (including VAT) Zero-rated supplies Exempt supplies Input tax for the quarter is £118,000. Of this input tax, 35% is attributed to taxable supplies, 40% is attributed to exempt supplies and 25% is unattributed.
Compute the V A T provisionally payable to or reclaimable from HMRC for the quarter.
Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
Posted Date: