Indirect Tax VAT return box 1-5

lifeisstrange
lifeisstrange Registered Posts: 27 Epic contributor 🐘
Hi everybody,

I had Indirect Tax today and my teacher said that for the computer based assessment we now have to put the amount of VAT in whole pounds for box1 to box5. He said we have to ignore the pennies. Could I have a confirmation from someone who had the exam recently because now I am confused and I would like to be sure that during the CBA I won't make a mistake.

Thank you very much.

Comments

  • louby
    louby Registered Posts: 8 Regular contributor ⭐
    Hi
    I took indirect tax exam on Monday, and I got feedback from the aat website which said I exceeded on filling in the vat return.
    Boxes 1-5 Do have pence in but the rest of the boxes don't.
    And round down not up.
  • Jo Clark
    Jo Clark Registered Posts: 2,525 Beyond epic contributor 🧙‍♂️
    Hello

    I agree with Louby. Boxes 1 - 5 include pence and boxes 6 - 9 whole pounds only.

    If you look at the practice assessment it actually states under boxes 6 - 9 whole pounds only.

    Good luck.


    JC
    ~ An investment in knowledge always pays the best interest ~
    Benjamin Franklin
  • janwal
    janwal Registered Posts: 1,189 Beyond epic contributor 🧙‍♂️
    Hi

    I agree with Louby and Jo, the first five boxes are to the penny, the rest are whole pounds.

    Good luck

    Jan
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