Lindsey is not registered for VAT. In the yea r to 31 March 2018 , she has

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Lindsey is not registered for VAT. In the yea r to 31 March 2018 , she has inputs costing £10,000 plus VAT at 20%. Her outputs total £35,000.

(a) How much profit does she make for the year?

(b) If she had registered for VAT voluntarily, how much profit would she have made?

(i) zero-rated?
(ii) standard-rated supplies made to VAT-registered businesses?
(iii) standard-rated supplies made to the general public?

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Taxation Finance Act 2017

ISBN: 9781292200804

23rd Edition

Authors: Alan Melville

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Question Posted: Feb 07, 2024 08:28 AM

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Lindsey is not registered for VAT. In the yea r to 31 March 2018 , she has

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a Her profit is 23000 35000 12000 bIf she had registered for VAT and ...View the full answer

Taxation Finance Act 2017

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