It doesn't make sense that if you go above the deminimis amount that you can still claim anything on only the the exempt part of goods, what about the taxable part, do you not claim for that . very confusing.
Hello Mo, thanks for the videos! Please could you upload a lesson on business awareness? Preferably a video of chapter 1-7 to help me understand as it is very wordy and hard to condense.
Flat rate scheme calculates output tax flat in the gross sales revenue (inc vat) where you cannot claim input tax. It’ll make no sense to calculate the rate on the net amount
Thank you so much Mo, this is very very useful! 🤝🤝🤝
It doesn't make sense that if you go above the deminimis amount that you can still claim anything on only the the exempt part of goods, what about the taxable part, do you not claim for that . very confusing.
Thank youu Mo!!
love the energy you bring. well explained too
I appreciate that!
Hello Mo, thanks for the videos! Please could you upload a lesson on business awareness? Preferably a video of chapter 1-7 to help me understand as it is very wordy and hard to condense.
Great suggestion! I’m working on them currently
Hi Mo! Why do we need to multiply the Outputs of 26,500 to 1.2?
Flat rate scheme calculates output tax flat in the gross sales revenue (inc vat) where you cannot claim input tax. It’ll make no sense to calculate the rate on the net amount
Appreciate your work…I need all assements foe level 3 like this..
@@AATbyMo could you upload a calculation for using the flat rate.
Why 1.2
Tax is calculated on the gross sales (Inc VAT) amount, the sales figure needs to be multiplied by 120% or 1.2 for the Gross Sales figure
Teach level 1