taxation

answer question 1 and 2 only please

not needed now

Mr. Tahir is thinking to start our business to supply Consumer goods. He also expected that the annual tumover of the business will be more that E 150000. He Invested in the business 10000000 He is selling the following goods E Per month 1. luxury food, 12000 2 Adult clothing and Footwear 8000 3. domestic electricity gas 5000 4 books 13000 5. children's clothes and footwear 11000 Secondly, he is running a nonprofit making educational institution, with 1000 students Annually he was generating fund from the institution of 100000 p.a. Me Tahir, is registered for VAT, incurred the following expenditure (including VAT) during the quarter ended 31 December 2020 E New car for salesman (private use) 14.500 Three new motor vans 28.200 Second-hand container lorry 29,370 Entertaining - UK customers 4.935 Employees 5.250 Require 1 What VAT is charged on taxable supplies of goods and services in UK made by taxable persons in course of Mr Tahir business? 2. By what date is Mr Tahir required to notify HMRC that he is able to register for VAT? And from which date must she be registered? 3. How much VAT can be reclaimed in respect of the above and on what amount will Me Tahir be entitled to claim capital allowances? Convento Smart Font Arrange Quick Styles Drawing Shape Ofect - Paragraph Sele- Editing Registration 1 Supplies TAXABLE EXEMPT Std/reduced rated Zero rated 0% Register with HMRC Cannot register Recover INPUT VAT Cannot recover INPUT VAT iddiatas Font Paragraph Drawing Eating Registration 2 Registration is compulsory if. - At the end of any month taxable supplies over the previous 12 months have exceeded 85,000 (historic test) - In the next 30 days, taxable supplies are expected to exceed 85,000 (future test) Requirement may be waived if can satisfy HMRC that taxable supplies in the following 12-month period will be less than 83,000. Taxable supplies is VAT exclusive value of all zero rated and standard rated supplies . anto inter | Angered Het Son New She A 21 ! A fant Mind RE Sci- *** EL tha SO And Stylesheet Drawing wap Registration 3 Trader has 30 days to notify HMRC Registration effective from: - The first day of the second month after the supplies exceeded 85,000 (historic test) - Start of 30-day period (future test) Historic test End of each month Previous 12 months Taxable supplies > 85k . . . eg exceed limit on 30 November Notify HMRC within next 30 days (by 30 December) Registered at midnight at end of month following end of 12-month period (31 December) Must charge VAT from start of next month (1 January) Registration 5 Forward looking (future) test Today 30 days Taxable supplies > 85k . 30 days to notify HMRC Registered from start of the 30-day period . Mr. Tahir is thinking to start our business to supply Consumer goods. He also expected that the annual tumover of the business will be more that E 150000. He Invested in the business 10000000 He is selling the following goods E Per month 1. luxury food, 12000 2 Adult clothing and Footwear 8000 3. domestic electricity gas 5000 4 books 13000 5. children's clothes and footwear 11000 Secondly, he is running a nonprofit making educational institution, with 1000 students Annually he was generating fund from the institution of 100000 p.a. Me Tahir, is registered for VAT, incurred the following expenditure (including VAT) during the quarter ended 31 December 2020 E New car for salesman (private use) 14.500 Three new motor vans 28.200 Second-hand container lorry 29,370 Entertaining - UK customers 4.935 Employees 5.250 Require 1 What VAT is charged on taxable supplies of goods and services in UK made by taxable persons in course of Mr Tahir business? 2. By what date is Mr Tahir required to notify HMRC that he is able to register for VAT? And from which date must she be registered? 3. How much VAT can be reclaimed in respect of the above and on what amount will Me Tahir be entitled to claim capital allowances? Convento Smart Font Arrange Quick Styles Drawing Shape Ofect - Paragraph Sele- Editing Registration 1 Supplies TAXABLE EXEMPT Std/reduced rated Zero rated 0% Register with HMRC Cannot register Recover INPUT VAT Cannot recover INPUT VAT iddiatas Font Paragraph Drawing Eating Registration 2 Registration is compulsory if. - At the end of any month taxable supplies over the previous 12 months have exceeded 85,000 (historic test) - In the next 30 days, taxable supplies are expected to exceed 85,000 (future test) Requirement may be waived if can satisfy HMRC that taxable supplies in the following 12-month period will be less than 83,000. Taxable supplies is VAT exclusive value of all zero rated and standard rated supplies . anto inter | Angered Het Son New She A 21 ! A fant Mind RE Sci- *** EL tha SO And Stylesheet Drawing wap Registration 3 Trader has 30 days to notify HMRC Registration effective from: - The first day of the second month after the supplies exceeded 85,000 (historic test) - Start of 30-day period (future test) Historic test End of each month Previous 12 months Taxable supplies > 85k . . . eg exceed limit on 30 November Notify HMRC within next 30 days (by 30 December) Registered at midnight at end of month following end of 12-month period (31 December) Must charge VAT from start of next month (1 January) Registration 5 Forward looking (future) test Today 30 days Taxable supplies > 85k . 30 days to notify HMRC Registered from start of the 30-day period