Smart Ltd began trading on 1 September 2022. Taxable turnover for the first four months of trading
Question:
Smart Ltd began trading on 1 September 2022. Taxable turnover for the first four months of trading was as follows:
September 2022 £26,000 October 2022 £47,000 November 2022 £134,000 December 2022 £113,000 On 1 November 2022, the company signed a contract to supply standard-rated services valued at £96,000 (before VAT) for completion during November 2022.
Required:
State, giving reasons, the date from which Smart Ltd was required to register for VAT and the date by which it was required to notify HMRC of the registration. (ACCA)
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