Value Added Tax - VAT (part 1) - ACCA Taxation (FA 2022) TX-UK lectures

[@oddguyamaar9191]

Thanks For the free lectures. Great help!

[@thetranquilplace8184]

For voluntary registration example where did you get 120 and 100 from ???

[@indigoclubhouse9124]

Hi mate, to answer your question at the moment the business has received 87,000, because they have to register for VAT, 20% of that 87,000 is now VAT which needs to be paid to HMRC. Therefore assuming 87,000 is the gross VAT, 72,500 will be the net amount

[@thetranquilplace8184]

@@indigoclubhouse9124 Thank you 🙏🏾