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Annual adjustment VAT

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Annual adjustment VAT

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by AvatarTax Tutor.
Viewing 2 posts - 1 through 2 (of 2 total)
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  • May 26, 2018 at 6:54 am #454004
    Avataramawesome2
    Participant
    • Topics: 85
    • Replies: 24
    • ☆☆

    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.

    June 3, 2018 at 3:28 am #455657
    AvatarTax Tutor
    Member
    • Topics: 2
    • Replies: 3960
    • ☆☆☆☆☆

    Partial exemption is not in the F6 syllabus

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