Dear Sir,
For the cash and annual accounting schemes- are you supposed to leave the scheme when taxable turnover for the previous year exceeds 1.6Mn, or when taxable turnover for the next year exceeds that threshold?
Also, in all 3 scheme's does taxable turnover / total turnover (flat rate) include the sale of capital assets?
Ask the Tutor ACCA TX-UK
SPECIAL VAT SCHEMES
You will only have to quote the £1.6M limit and not calculate nor apply that limit - NOW focus on the issues that are relevant to the core topic areas and will determine whether you pass this exam
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