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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Annual adjustment VAT
If a firm which is partially exempted, follows the annual test for vat accounting purposes finds out that it couldnt satisfy one of tests
among the deminimis tests when applied to the year a whole, should it then carry out an annual adjustment? Or simply claim the whole input tax to recover
PS :pls dont confuse the annual test with annual accounting scheme.
Partial exemption is not in the F6 syllabus
