Chapter 4

Question 1

Debits in the VAT control account

Answer 1

Vat on purchases
vat on purchases of non-current asset
vat on expenses
vat on sales returns
vat on irrecoverable debts

Question 2

Credits in the VAT control account

Answer 2

vat on sales
VAT charged on other income
vat on purchase returns

Question 3

How long till bad debt can be reclaimed

Answer 3

6 months

Question 4

Requirements to register for Making Tax Digital

Answer 4

vat registration number
the final month of the last VAT return submitted
date of registatrion for vat
box 5 figure from the last VAT return
postcode of the principal place of business