In June 2020, a standard-rated supply is made at a price of 4,000, plus VAT. The customer
Question:
In June 2020, a standard-rated supply is made at a price of £4,000, plus VAT. The customer is offered a 3% discount if payment is made within 30 days. Calculate the value of the supply and the VAT charged on the supply if the customer:
(a) pays within 30 days
(b) does not pay within 30 days.
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a If the customer pays within 30 days the value of the s...View the full answer
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