10. A business bills the customers 1,150,000 plus VAT of 200,000 at the standard rate...
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10. A business bills the customers 1,150,000 plus VAT of 200,000 at the standard rate in its first year. The flat rate applicable to their business is 14,5% (1% discount) Calculate the VAT due to HMRC for the quarter ended 30th April 2020 assuming the company is registered under the flat rate scheme and the appropriate flat rate percentage for its trade sector is 9%
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