vat question

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:23AM in AAT student discussion
I was very happy when I opened the exam paper yesterday although Section 2 questions were a bit hit and miss!! The one I want to know about is the debit balance on VAT? What did everyone else put? I have been doing home study and havent been asked to hand in any work at all - is that right?

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    vat question

    Hi<BR><BR>If you have a debit balance it means that the vat man owes you a refund because you have bought in more goods than you have sold.<BR><BR>Tracy
  • System
    System Posts: 100,534 🤖 Admin 🤖
    vat question

    Oh good thats what I wrote for my answer. Thanks

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