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)

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: