VAT Quiz On Buying And Selling Goods In The UK, Eu And Overseas

9 Questions | Total Attempts: 40

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VAT Quiz On Buying And Selling Goods In The UK, Eu And Overseas

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Questions and Answers
  • 1. 
    When a UK business sells goods to another EU business this is called a 
  • 2. 
    A UK business which sells goods to a non-EU business has made an
  • 3. 
    When a UK VAT registered business sells goods to a EU VAT registered business, it must charge VAT at
  • 4. 
    When a non-VAT registered UK trader sells goods to a EU VAT registered trader it must charge VAT
    • A. 

      True

    • B. 

      False

  • 5. 
    When a UK Business sells goods to a non-EU country it must charge 
    • A. 

      20% VAT

    • B. 

      5% VAT

    • C. 

      0% VAT

    • D. 

      These are exempt sales

  • 6. 
    When a UK VAT registered trader sells goods to a non-VAT registered EU trader it should not charge VAT
    • A. 

      True

    • B. 

      False

  • 7. 
    Explain the process of how a UK VAT registered trader must account for VAT on goods bought from a VAT registered EU trader
  • 8. 
    When a UK VAT registered trader buys goods from a non-EU trader, the non-EU trader charges VAT
    • A. 

      True

    • B. 

      False

  • 9. 
    When a UK VAT registered trader buys goods from a EU non-registered trader they should add the appropriate rate of UK VAT to the cost of the purchase
    • A. 

      True

    • B. 

      False