Question 1

Section A

Marcel is an artisanal cheese maker. His taxable turnover has been steadily increasing. At the end of October 2023, his rolling 12-month taxable turnover reached £86,000 for the first time.

By what date must Marcel notify HMRC of his requirement to register for VAT?

Accepted Answer

Identify the end of the month in which the historic threshold was breached. Add 30 days to find the notification deadline.

Question 2

What mistakes do candidates make on this ACCA question?

Accepted Answer

Confusing the notification date (30 Nov) with the effective date of registration (1 Dec).

Section A

Marcel is an artisanal cheese maker. His taxable turnover has been steadily increasing. At the end of October 2023, his rolling 12-month taxable turnover reached £86,000 for the first time.

By what date must Marcel notify HMRC of his requirement to register for VAT?

How to approach this question

Full Answer

Common mistakes

Practice the full ACCA TX — Taxation Practice Exam 3

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