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.

Answer rating: 100% (QA)

V AT liability for the quarter Standard rated supplies ... View the full answer