Syllabus F7
Preparing and completing VAT returns 7 / 8
a) Computing VAT liabilities
i) input tax
ii) output tax
iii) impaired debts
iv) discounts
v) irrecoverable VAT.
b) Make adjustments and declarations for any errors or omissions identified in previous VAT returns.
c) Accounting for VAT
i) return periods
ii) tax point
iii) VAT return.
Supplies for VAT
3:50
Illustration
1:00
Illustration - Discounts
1:11
Past Exam Question
2:03
Specimen - Section A - Q10
1:15
June 12 - Section A - Q9
2:00
Recoverable Input VAT
3:11
Illustration - Recoverable Input VAT
2:04
Past Exam Question
1:37
Impairment losses
1:33
Illustration
2:58
Past Exam Question
1:29
Specimen - Section B - Q14
4:58
Submitting incorrect returns
2:21
Penalties
1:12
Illustration - Incorrect returns
1:02
Past Exam Question
1:10
Tax point
4:02
Illustration - Tax Point
2:54
Past Exam Question
1:20
VAT return
2:32
Illustration
2:46
Calculate the amount of VAT payable/recoverable
Relief available for impairment losses on trade debts
VAT and discounts
Circumstances in which input VAT is non-deductible
Understand how VAT is accounted for and administered
Tax point
VAT return
Syllabus F7CBE Questions
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F. Value Added Tax
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F. Value Added Tax