VAT question

[secretspy]

It's up to £10,000 without needing to notify them according to my indirect tax AAT study book!

I thought it was but I'm on the next AAT book and I couldn't remember if I was getting it mixed up with something else

 

[el_dazza]

I thought it was but I'm on the next AAT book and I couldn't remember if I was getting it mixed up with something else

Which are you on? I've got my advanced bookkeeping resit tomorrow, I never want to deal with prepayments/accruals ever again after this

 

[andicole0]

Ok, how much is the original price of an product if you have to pay £500 inc VAT?

It could be £500 depends on what it is, VAT can be a number of values including 0%.

 

[lsg1r]

Yeah I was going to ask what it's in relation to because there are some things that are not rated at 20% vat.

 

[Martynt74]

Which are you on? I've got my advanced bookkeeping resit tomorrow, I never want to deal with prepayments/accruals ever again after this

Haha, my daughter has just started her AAT and is only about 2 months in. I'm so glad i'm well past it now. It definitely makes me realise i'm a rubbish "technical" accountant because i kept arguing with the book when she asks for help because it's really long winded!

 

[dirtychinchilla]

Haha, my daughter has just started her AAT and is only about 2 months in. I'm so glad i'm well past it now. It definitely makes me realise i'm a rubbish "technical" accountant because i kept arguing with the book when she asks for help because it's really long winded!

Are you sure it's OK to have two accountants in one house? You might fall into a sinkhole of boredom

 

[Martynt74]

My wife works in finance too doing Payroll.

It’s a wonder why people always decline our invitations for parties.....

 

[dirtychinchilla]

My wife works in finance too doing Payroll.

It’s a wonder why people always decline our invitations for parties.....

Jesus christ.

 

[VincentHanna]

No, he was a carpenter so would have been subject to 20% VAT.....