questão  |
resposta |
|
4cz começar a aprender
|
|
taxable supply | by a taxable person | in the UK | in the course or furtherance of a business.
|
|
|
VAT. With Exempt supply no tax is charged and trader is unable to ... and to... começar a aprender
|
|
to register | and reclaim input VAT.
|
|
|
Taxable person is someone who... 2cz começar a aprender
|
|
who is, | or is required to be registered for VAT.
|
|
|
Compulsory registration for VAT is required when value of ... exceeds the registration threshold (£85 000) começar a aprender
|
|
taxable suppliers (standard or zero-rated)
|
|
|
VAT Voluntary registration. Traders ... can register at any time. começar a aprender
|
|
traders making taxable suppliers (standard or zero-rated)
|
|
|
Compulsory registration. Historic turnover test (£85 000) is performed... começar a aprender
|
|
at the end of each month.
|
|
|
HMRC must be informed about compulsory registration within... começar a aprender
|
|
30 days of the end of the month in which the threshold is exceeded. VAT registration future test is performed constantly.
|
|
|
Compulsory registration is in force from... 2 começar a aprender
|
|
from the first day of the second month after taxable supplier exceeded the threshold. | Or from agreed earlier date.
|
|
|
Compulsory registration tests: começar a aprender
|
|
Historic turnover test. | Future test.
|
|
|
VAT registration future test: começar a aprender
|
|
Taxable supplies in the next 30 days is expected to exceed £85 000.
|
|
|
VAT registration future test. HMRC must be informed by... começar a aprender
|
|
by the end of the 30 day period in which the threshold is expected to be exceeded.
|
|
|
Future test. Registration is in force from... começar a aprender
|
|
from the start of the 30 days period.
|
|
|
Voluntary registration advantages: começar a aprender
|
|
Monthly returns registration possibility to aid cashflow*. | Repayable VAT shown by VAT returns*. | Penalties for late registration avoiding. | Input tax recoverable. | Substantial business impression. *If making zero-rated supplies.
|
|
|
Disadvantages of voluntary registration. 2 começar a aprender
|
|
Administration burden. | Output charged on sales*. *If make standard-rated supplies to customers who are not VAT registered, it will be an additional cost to them. It may affect competitiveness.
|
|
|
