Hi everyIone! Could you please explain this question for me.

emiliyayasenova
emiliyayasenova Registered Posts: 1
how 12 month period ending has been 31 july?

Answers

  • Pian32
    Pian32 MAAT Posts: 448
    When looking at the VAT threshold you don't look at the accounting year end. You look at a rolling 12 months to see if it has passed the threshold.

    Apr 16 - Mar 17
    £77,000
    May 16 - Apr 17
    £78,000
    June 16 - May 17
    £78,000
    July 16 - June 17
    £79,000
    Aug 16 - July 17
    £88,000 <- Passes the VAT threshold

    Hope this helps
    AAT Level 4, MAAT
    ACCA in progress
    F4- Passed Aug 2020
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    F7- Passed June 2021
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