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Output vat for Petrol

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Output vat for Petrol

  • This topic has 1 reply, 2 voices, and was last updated 11 months ago by JillyB.
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  • August 6, 2024 at 11:44 am #709215
    alawi sayed
    Participant
    • Topics: 301
    • Replies: 352
    • ☆☆☆☆

    Hello Jilly,

    In case of petrol and repairs of the cars expense given to employees and directors why there is an output Vat even though this operation is not involving a sale.

    Thanks.

    August 7, 2024 at 11:58 am #709253
    JillyB
    Keymaster
    • Topics: 0
    • Replies: 899
    • ☆☆☆☆

    For petrol use the scale charge as mentioned in section 4 of the chapter
    For repairs – if there is business use then just recover the input VAT – same section in the notes

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