Mock Exam Flash Cards
1
Q
What % reduction can a business get in its first year of VAT registration on the flat rate scheme ?
A
1%
2
Q
What VAT would a UK VAT registered business charge an overseas customer ?
A
Zero rated
3
Q
Can you claim VAT back on entertainment for overseas customers ?
A
Yes
4
Q
How much VAT can you claim back on employee expenses and entertainment ?
A
All input VAT
5
Q
How many days late does a business have to pay VAT to be charged a penalty ?
A
More than 15 days
