Indirect Tax VAT return box 1-5

lifeisstrangelifeisstrange Feels At HomePosts: 27Registered
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

  • loubylouby New Member Posts: 8Registered
    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 ClarkJo Clark Font Of All Knowledge Posts: 2,526Registered
    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
  • janwaljanwal Experienced Mentor Posts: 1,189Registered
    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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