Barbara is registered for VAT and is preparing her VAT return for the three-month period ended 31 March 2016.Barbara incurred input tax of ￡1,338 related to zero-rated supplies and input tax of ￡600 related to standard-rated supplies.What amount of input VAT should Barbar account for on her VAT return for the three months ended 31 March 2016?

1 .Quinn will not make the balancing payment in respect of her tax liability for the tax year 2014–15 until 17 October 2016.What is the total percentage of penalty which Quinn will be charged by HM Revenue and Customs (HMRC) in respect of the late balancing payment for the tax year 2014–15?

A 15% B 10% C 5% D 30%

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2 .For the year ended 30 June 2015, Forgetful Ltd had a corporation tax liability of ￡166,250, which it did not pay until 31 July 2016. Forgetful Ltd is not a large company.How much interest will Forgetful Ltd be charged by HM Revenue and Customs (HMRC) in respect of the late payment of its corporation tax liability for the year ended 30 June 2015?

A ￡1,801 B ￡2,909 C ￡5,403 D ￡1,662

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3 .Carmen commenced trading on 1 January 2015 and her profit for the year ended 31 December 2015 was ￡56,000. She has not contacted HM Revenue and Customs (HMRC) to advise that she has commenced to trade and has never been issued with nor completed a self-assessment return.What is the latest date by which Carmen should have notified HMRC of her new business?

A 31 January 2015 B 5 October 2015 C 31 January 2016 D 5 October 2016

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4 .Emerald commenced business as a sole trader on 1 March 2015making only taxable supplies. Her turnover in the first 15 months of trade was as follows:1 March 2014 to 30 September 2015: ￡7,150 per monthOctober and November 2015: ￡10,500 per monthFrom December 2015 onwards: ￡11,000 per monthBy what date should Emerald have notified HM Revenue and Customs that she was required to become VAT registered in order to avoid a penalty for late registration?

A 1 March 2015 B 30 November 2015 C 31 December 2015 D 31 January 2016

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5 .Violet Ltd provides one of its directors with a company motor car which is used for both　business and private mileage. For the quarter ended 31 March 2016, the total cost of petrol　for the car was ￡600, of which 30% was for private use by the director. The relevant　quarterly scale charge is ￡408. Both these figures are inclusive of value added tax (VAT).What output VAT and input VAT entries will Violet Ltd include on its VAT return for　the quarter ended 31 March 2016 in respect of the company motor car?

A Output VAT of ￡68 and input VAT of ￡70 B Output VAT of Nil and input VAT of ￡70 C Output VAT of Nil and input VAT of ￡100 D Output VAT of ￡68 and input VAT of ￡100

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7 .Charlie is a VAT registered trader making only standard-rated supplies. He received an order from a customer on 19 May 2016 enclosing a payment of ￡2,250 which represented a 15% deposit (including VAT).Charlie dispatched the goods on 19 May and issued an invoice for the full amount of ￡15,000 on 1 June. The balancing payment of ￡12,750 was received on 13 July.Charlie does not operate the cash accounting scheme.What amounts of output tax must be accounted for in the VAT returns for the quarters to 31 May and 31 August 2016??

A Quarter to 31 May ￡0; Quarter to 31 August ￡2,500 B Quarter to 31 May ￡375; Quarter to 31 August ￡2,125 C Quarter to 31 May ￡2,250; Quarter to 31 August ￡250 D Quarter to 31 May ￡2,500; Quarter to 31 August ￡0

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8 .Beryl is registered for VAT and is preparing her VAT return for the three-month period ended 31 March 2016. During this period she made zero-rated supplies of ￡14,450 and standard rated supplies of ￡19,650. These figures exclude VAT.What amount of output VAT should Beryl account for on her VAT return for the three months ended 31 March 2016?

A ￡3,275 B ￡3,330 C ￡3,930 D ￡6,820

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9 .Yui commenced trading on 1 April 2015, and registered for value added tax (VAT) from 1　January 2016. Her first VAT return is for the quarter ended 31 March 2016. During the　period 1 April 2015 to 31 March 2016, Yui incurred input VAT of ￡110 per month in respect　of the hire of office equipment.How much input VAT in respect of the office equipment can Yui reclaim on her VAT　return for the quarter ended 31 March 2016?

A ￡660 B ￡990 C ￡330 D ￡1,320

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10 .Johnnie, a sole trader, completed a VAT return for the quarter to 31 December 2015 showing output tax of ￡215,000 and input tax of ￡126,000.In July 2016 Johnnie’s accountant discovered that the input tax on the VAT return had been overstated by ￡7,500. This was the first time that Johnnie had made an error on a VAT return. HM Revenue and Customs (HMRC) was notified and the outstanding tax paid.What is the minimum amount of penalty that HMRC could charge Johnnie for the error?

A 0% of tax lost B 15% of tax lost C 20% of tax lost D 30% of tax lost

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