During the quarter to 31 December 2021, a taxable person makes the following supplies: Input tax for
Question:
During the quarter to 31 December 2021, a taxable person makes the following supplies:
Input tax for the quarter is £118,000. Of this input tax, 35% is attributed to taxable supplies, 40% is attributed to exempt supplies and 25% is unattributed. Compute the VAT provisionally payable to or reclaimable from HMRC for the quarter.
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To compute the VAT provisionally payable or reclaimable from HMRC well need to calculate the output ...View the full answer
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