Why on June 2011 in the answer is recovered VAT attributable ONLY to exempt suppliers on purchases, which is NEVER recoverable according to all the study texts, i.e these 950 ?
one more question
Please help me with the basic periods for the second year in both cases
for me if is YE 31 March – means short period of accounts, which means that in the second year the period is first 12 months/ or 12 month from 1.07 / starting date/ i.e 01.07-30.06
if YE is 30.06- means long period of accounts or the basic period is 12 months before the YE/30.06/ or 01.07-30.06 again. That are the rules. Where am I wrong?
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