Little Roper Farm Shops Ltd sells a mixture of standard rated, zero rated, and exempt goods. For the latest VAT quarter ended 31 March 2021, you are provided with the following information:

• Standard rated sales totaled £75,000
• Zero rated sales totaled £125,000
• Exempt sales totaled £75,000
• The company purchased a car for £25,000. The car's CO2 emissions were 135 g/km. The managing director has sole use of this car and estimated that 75% was for personal use.
• The company pays for all car fuel and reclaims the input tax.
• Other standard-rated goods and services purchased in the period amounted to £174,000. This included costs related to the car of £950 for maintenance and £750 for fuel.
• £34,000 of the input costs was exclusively attributable to the supply of exempt goods, the remainder was attributable to standard rated, zero rated, and exempt supplies.
• A wholesale customer, Little Roper Campsites Ltd went into administration on 1 December 2020 owing Little Roper Farm Shops Ltd £6,750 for an invoice dated 1 October 2020.

Required:

1. Compute the VAT payable (or repayable) for the last quarter.

2. How long after the quarter end is a VAT return and payment due and when may this timetable vary?

Answer rating: 100% (QA)

b The quarterly VAT return the due date will be 28th of the subsequence ... View the full answer