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By:
Ben Portlock
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Decks in this class (23)
Chapter 1 - VAT General Principles
General principles,
Vat rates,
Vat fraction
10
cards
Chapter 2 - Registration
Compulsory vat registration,
Taxable person,
Voluntary registration
12
cards
Chapter 3 - Liability of the Supply
Introduction,
Taxable supplies,
Reduced rate
5
cards
Chapter 4 - Schedule 8 VATA 1994 - Zero Rating
Schedule 8 vata 1994,
Groups 1 9,
Groups 10 18
8
cards
Chapter 5 - Schedule 9 VATA 1994 - Ecemptions
Schedule 9 vata 1994,
Groups 1 8,
Groups 9 16
7
cards
Chapter 6 - Deemed Supply
Introduction,
Deemed supplies,
How to account for deemed supplies
7
cards
Chapter 7 - Value of Supply
Consideration wholly in money,
Prompt payment discount,
Ppd
4
cards
Chapter 8 - Time of Supply
Time of supply,
Basic tax point,
Basic tax point override
5
cards
Chapter 9 - When to Recover
Introduction,
Conditions,
Supply made to the taxable person
5
cards
Chapter 10 - Partial Exemption
Introduction,
Standard method,
Values based
8
cards
Chapter 11 - VAT Records and Returns
Records,
The vat account,
Vat payable portion
11
cards
Chapter 12 - Bad Debt Relief
The problem,
Bad debt relief,
Claim timeframe
6
cards
Chapter 13 - Accounting for VAT
Annual accounting,
Annual accounting process,
Annual process availability
6
cards
Chapter 14 - Flat Rate Scheme
Introduction,
Eligibility,
Flat rate percentage
7
cards
Chapter 15 - Penalties for Incorrect Returns
When penalties apply,
Careless action,
Deliberate but not concealed
14
cards
Chapter 16 - Failure to Notify
Introduction,
Calculation of the penalty,
Non deliberate
7
cards
Chapter 17 - Default Surcharge
Introduction,
The surcharge,
Surcharge not applying
4
cards
Chapter 18 - International Aspects - Goods
Introduction,
Exports,
Note
6
cards
Chapter 19 - International Aspects
Place of supply,
Current rates general place of su...,
Business to business b2b
10
cards
Chapter 20 - Transfer of Going Concern
Introduction,
Vat charged when it shouldnt have...,
Togc conditions
11
cards
Chapter 21 - Groups
Introduction,
Conditions,
Application for group registration
6
cards
Chapter 22 - Retail Schemes
Introduction,
Retail schemes,
Retail schemes cont
11
cards
Chapter 23 - VAT in Company Financial Statements
For standard rate,
Vat control account,
Vat control account t account
4
cards
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Paper 3: VAT
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