UK TAX

Ruby a trader has the following sales during the quarter ended 31/3/2021: Standard Rated Sales (including VAT) 96,000 Zero-rated sales 6,000 Exempt goods 4,000 She purchased various items for business and incurred an input VAT of 2,000. The flat rate applicable for the above business is 12% Under Flat-Rate Scheme, how much VAT is to be payable by Ruby for the quarter ended 31/3/2021?

(2 Points)

12,720

10,720

16,000

14,000