ACCA考试复习回顾《税务F6》辅导4.doc

ACCA考试复习回顾《税务F6》辅导4 本文由高顿ACCA整理发布，转载请注明出处 　　VALUE ADDED TAX, PART 1? 　　RELATED LINKS ? 　　PDF version ? 　　This two-part article is relevant to candidates sitting Paper F6 （UK） in either the June or December 2013 sittings, and is based on tax legislation as it applies to the tax year 201213 （Finance Act 2012）。 ? 　　Paper F6 （UK） will always contain a minimum of 10 marks on value added tax （VAT）。 These marks will normally be included within question one （focusing on income tax） or question two （focusing on corporation tax）， although there might be a separate question on VAT. ? 　　Standard rate of VAT The standard rate of VAT is currently 20%. ? 　　Example 1 Zoe is in the process of completing her VAT return for the quarter ended 31 March 2013. The following information is available: ? 　　Sales invoices totaling 128,000 were issued in respect of standard rated sales. ? 　　Standard rated expenses amounted to 24,800. ? 　　On 15 February 2013 Gwen purchased machinery at a cost of 24,150. This figure is inclusive of VAT. ? 　　Unless stated otherwise all of the above figures are exclusive of VAT. ? 　　VAT return  quarter ended 31 March 2013  ? 　　 Output VAT ? 　　Sales （128,000 x 20%） ? 　　25,600 ? 　　Input VAT ? 　　Expenses （24,800 x 20%） 4,960 ? 　　Machinery （24,150 x 20/120） ? 　　4,025 ? 　　_____ ? 　　（8,985） ? 　　 ? 　　 ______ ? 　　16,615 ______ ? 　　VAT registration A business making taxable supplies must register for VAT if during the previous 12 months the value of taxable supplies exceeds 77,000. However, VAT registration is not required if taxable supplies in the following 12 months will not exceed 75,000. These figures are exclusive of VAT. Remember that both standard rated and zero-rated supplies are taxable supplies. ? 　　Example 2 Albert commenced trading on 1 January 2012. His sales have been as follows: Standard rated  ? 　　Zero- rated  2012 ? 　　January ? 　　3,200 ? 　　0 February 2,800 0 ? 　　March ? 　　3,300 ? 　　0 April 5,100 600 ? 　　May ? 　　2,700 ? 　　0 June 3,700 400 ?