VAT Quiz 4 – Independent Locksmiths Network

VAT Quiz – Set 3

Numbers only, 2 decimal places where needed.

1. Add VAT to net

Net = £59.00, VAT @20%.

VAT (£):

Gross (£):

VAT: 11.80, Gross: 70.80

2. Reverse VAT from gross

Gross = £414.00 (20% VAT included).

Net (£):

VAT (£):

Net 345.00, VAT 69.00

3. VAT amount given

VAT = £27.40 at 20%.

Net (£):

Gross (£):

Net 137.00, Gross 164.40

4. Mixed VAT items

One sale includes:
• Chocolate bar £1.20 (0%)
• Sandwich £3.80 (20%)
• Soft drink £2.00 (20%)

Total VAT (£):

Total gross (£):

VAT 1.16, Gross 7.00

5. Discount before VAT

Net goods = £350.00, discount 12%, VAT @20%.

Discounted net (£):

VAT (£):

Gross (£):

Net 308.00, VAT 61.60, Gross 369.60

6. Deposit calculation

Net order value = £720.00, deposit = 25%, VAT @20%.

Deposit net (£):

Deposit VAT (£):

Deposit gross (£):

Net 180.00, VAT 36.00, Gross 216.00

7. Credit note VAT reversal

You refund an overcharge of **£42.00 net**. VAT @20%.

VAT (£):

Total credit (£):

VAT 8.40, Total 50.40

8. Total VAT from mixed net sales

A business sells:
• £600 at 20% VAT
• £200 zero-rated
• £150 exempt

Total VAT on sales (£):

VAT 120.00

9. VAT fraction (gross given)

Gross takings = £2,160.00, all at 20% VAT.

Net (£):

VAT (£):

Net 1800.00, VAT 360.00

10. VAT return summary

Output VAT = **£2,450**
Input VAT = **£1,310**

VAT payable (£):

VAT payable 1140.00

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