1 2 3 4 5 6 8 9 7

1 What does VAT stand for?

2 What are the three rates 0f VAT? 2

3 How much is the current registration limit?

4 To whom must VAT be paid?

5 What is 1/6?

6 What is the time of supply called?

7 How often is VAT usually paid?

8 Is the following statement true or false A person who makes exempt supplies cannot reclaim input tax

9 Where can you find details about the main VAT rules and procedures?

1 Value Added Tax

2 0%, 5% and 20%

3 £77,000

4 HMRC

5 The fraction for calculating the VAT when figure is VAT inclusive

6 The Tax Point

7 Quarterly

8 True

9 The HMRC website