Indirect Tax Exam

Netherwood26 · April 2012

Hi

Please can someone clarity re the ITX Part 2 section completing a VAT return for boxes 6 - 9 do you round the VAT up or down to the nearest whole pound? I know that VAT is normally rounded down to the nearest penny but kaplan book when completing boxes 6 - 9 round up to the nearest whole pound?

Cheers

Martyn

janwal · April 2012

Hi Martyn

When I did mine all I did was knocked the pence off (round down) and I passed, I think it does have a small tolerance in it as some had round up and others round down and most of us passed first time.

Good luck with it.

Jan

Netherwood26 · April 2012

Cheers Jan :-)

amyjayne27 · April 2012

Hi Martyn,

I just did a mock exam for this and my tutor noted not to round up as I had done, just knock the pence off as Jan said.

Good luck!

SarahJS · April 2012

I remember reading somewhere (sadly can't remember where) that up and down will be accepted, but the right way to do it is knock off he pence, as has been posted above.

Netherwood26 · April 2012

Thanks Amy

Netherwood26 · April 2012

Thanks Sarah

Indirect Tax Exam

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