Friday Quizzes Online & Trivia

0%Domestic supplies of water are zero rated for VAT purposes, and this includes supplies to carehomes and other residential institutions. Watch out though, its standard rated when supplied to a business, so the water in the Bradford office is subject to 20% VAT.

Jeremy

PropertyThe default position is that income from property is exempt from VAT, so rent and sales of properties are not subject to VAT. However, a business can opt to tax a commercial property, so that when they charge rent or sell the building they must charge VAT at the standard rate.

Oscar Wilde

It s exemptPostage stamps are exempt from VAT.

Abraham LincolnAll of these American Presidents were assassinated: Abraham Lincoln in 1865 James A. Garfield in 1881 William McKinley in 1901 John F. Kennedy in 1963

MuttleyBrain was the dog in inspector gadget, Porkchop was the dog in Doug, and Santas Little Helper is the Simpsons dog.

56(4x4x4) - (2x2x2) = 64 - 8 = 56

20%You may remember from a few weeks ago that whilst domestic gas and electricity is subject to the lower rate of 5% VAT, other supplies of gas and electricity (generally commercial supplies, including to office buildings) are subject to the standard rate of 20%.

ExemptThe default position is that rent is exempt from VAT. For commercial properties, some landlords may choose to opt to tax the property, at which point they must charge 20% VAT on the rent. Note though, that you cant opt to tax a residential property.

Orenthal His full name is Orenthal James Simpson

Rolling Stones Simon & Garfunkel Bob Dylan Small Faces