A standard-rated supply is made in May 2021 at a price of 340, plus VAT. Calculate the
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A standard-rated supply is made in May 2021 at a price of £340, plus VAT. Calculate the VAT chargeable and the consideration for the supply if:
(a) No discount is offered
(b) A 2% discount is offered for prompt payment and the customer takes advantage of this discount
(c) A 2% discount is offered for prompt payment but the customer decides not to take advantage of this discount.
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a The value of the supply is 340 VAT charged is 20 of 340 68 and th...View the full answer
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