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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › question on vat
1 fred began a trading as a sole trader on 1 january 2016 but did not register for vat when he commenced to trade He has made the following sales all of which are standard rated
january 2000
february 3500
march 4000
april 3200
may 1400
june 90000
july 5000
august 4000
all of the sales in june 2016 relate to an order which was received on 1 june 2016 for goods
to be delivered by 30 june 2016
when must fred start charging vat to his customers
2 layla started trading on 4 january 2015
taxable supplies for 2015 are as follows
3 months to 31 march £ 3000 per month
3 monthss to 30 june £ 30000 per month
3 months to 31 december £50000 per month
what is the effective date of registration for Vat assuming that layla waits until her turnover exceeds the registration limit before registering
Show me your answers – the first example is based on the future turnover test and the second example is based on the historic turnover test.