HMRC Rules

HMRC Rules

12th Grade

15 Qs

quiz-placeholder

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HMRC Rules

HMRC Rules

Assessment

Quiz

Other

12th Grade

Medium

Created by

Adele Curran

Used 1+ times

FREE Resource

15 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When did the new rules for Making Tax Digital (MTD) apply?

April 2018

April 2019

April 2020

April 2021

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is NOT a requirement under Making Tax Digital?

Digital record keeping

Manual VAT returns

Use of compatible software

Filing VAT returns digitally

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the main focus of Making Tax Digital?

Increasing tax rates

Digitalization of tax records

Reducing business taxes

Eliminating VAT

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

When was the guidance note accessed?

21st June 2021

21st June 2020

21st July 2020

21st May 2020

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What types of goods or services require a VAT invoice?

Only luxury goods

Only digital services

Standard rate or reduced rate goods or services

Only imported goods

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary purpose of a VAT invoice?

To track inventory

To comply with VAT rules

To calculate profit margins

To manage employee salaries

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Is a VAT invoice required for personal transactions?

Yes

No

Only for large transactions

Only for international transactions

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