- This topic has 2 replies, 2 voices, and was last updated 8 years ago by
.
- Posts
Hi tax tutor I got the answer for the above question to be, register for VAT at the start of Feb 2016 and notify at the end of Feb 16 since the sales are based on forecast turnover I used the basis future turnover notes in section 1.2 and also agreeing with example 2 of this chapter however the practice answer seems to relate to historical turnover compulsory registration dates Can you confirm again if I have misunderstood something? Thank you Angela
Read the information in the question carefully! The forecast turnover of £84,000 is for a quarter NOT a month. The future turnover test ONLY applies if the forecast turnover in the next 30 days will exceed the registration limit – this is not happening here, so we have to work out (see answer) when the historic turnover rule will apply – in example 2 the turnover is £90,000 in one month – not a quarter!
- You must be logged in to reply to this topic.