What is the VAT registration threshold amount this year?

Recap on lesson 1 VAT

Quiz
•
Business
•
Professional Development
•
Medium

Louisa Rigden
Used 2+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
£80,000
£81,000
£85,000
£83,000
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the deregistration VAT limit this year?
£85,000
£80,000
£81,000
£83,000
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How many VAT registrations can a sole trader have?
More than one if he asks HMRC permission
There is no limit
2
1
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What can you apply for if you temporarily exceed the VAT threshold?
Extension
Exception
Exemption
Extraction
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What kind of company can apply for exemption from VAT registration
One that only sells reduced rated goods
One that only sells zero rated goods
One that only sells chargeable goods
One that only sells exempt goods
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How often should turnover be checked when using the historic test?
Just before a VAT return is completed
When a VAT inspector visits
Once every 6 months
End of every month
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Once the threshold is exceeded using the historic test how long do you have to register with HMRC?
30 days
1 month from end of the month in which threshold is exceeded
30 days from end of month in which threshold is exceeded
1 month
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