Why in this case is the figure not rounded down?
Zeeshan_Ajaib
Registered Posts: 6
in Indirect Tax
Why in this case is the figure not rounded down? In other questions I have rounded down figures that have had pence figures above .50 to get the correct answer.
0
Best Answer
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When you complete a VAT return, you need to work out the VAT to the penny whereas when you are showing your sales for the period HMRC only want it to the nearest pound.
AAT Level 2&3 - 2016
AAT Level 4 - 2017
Personal Tax, Business Tax and External Auditing
ACA/CTA -
Certificate Level - Jan 2019
6
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