True
False
True
False
£41,000
£51,000
£61,000
£71,000
Standard Rate
Standard Term
Zero Term
Zero Rate
Exempt Provides
Exempt Supplies
Special Higher Rate
Special Lower Rate
True
False
Output tax charged to customers
Input tax charged by suppliers
Value of sales, inclusive of VAT
Value of purchases, inclusive of VAT
Sales and purchase information relating to the EU.
True
False
They must have been registered for 12 months, and
They must have a taxable turnover below £825,000
No more than £150,000 taxable supplies, and
No more than £187,500 total business income.
True
False
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