Indirect Tax Question

tillytots Registered Posts: 14 Regular contributor ⭐ ? ⭐
Hi I am studying indirect tax through home learning through BBP.

Can someone please clarify this for me. In their book 31/08/11 task 7.7 of the question bank. I have worked out the answer as it relates to the flat rate scheme of 8%.

On the vat return in box 1 enter the total sales less total credits then x 8% to get the vat.

Box 6 total sales less total credits (before the 8% taken off).

As no deduction for input vat, do I not enter any details in boxes 2,4 and 7.

Is there any others special criteria I should remember and for the other schemes?

Someone posted a query about failing due to indirect tax in section 2 having a query on vat refund and how to deal with it? Anyone else aware of the question and how to proceed.

Hoping to do my exam next month, never done a computer based exam before
Privacy Policy