Extras Flashcards
1
Q
when do hmrc pay interest from and to?
A
from the later of the day it was submitted or the due date to the repayment date (same rule for all taxes)
2
Q
what is included on a vat invoice?
A
tex point, vat reg number, info about the product, vat chargeable
3
Q
how long do vat records need to be kept for?
A
6 yrs
4
Q
what does turnover include for flat rate schem?
A
taxable and exempt supplies
5
Q
if there is no income tax to declare?
A
returns should still be submitted by the due date
6
Q
when is tax under simple assessment paid?
A
31 jan or 3 months later (later of)
7
Q
if balancing payment is less than 3000…
A
option to have it collected through paye - must file online by 30 dec or 31 oc for paper returns
