Wednesday, January 4, 2012

Aat skill test unit 31 vat return help please?

Is what you have given the whole question? I'm not sure where your box 1 figure has come from. Neither am I sure why you are basing your calculations of input VAT on the bank payments figure - a business this size shouldn't be using cash accounting and the inputs should be based on the purchase day book figure+petty cash figure. Similarly your box 6 & 7 figures should be based on actual sales and purchases respectively, not receipts and payments. Sorry if this is all rather negative - feel free to e-mail me if you want me to explain further.

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