Question 1

Section B - Case 1: Nimbus SaaS Ltd

Nimbus SaaS Ltd is a UK-based tech startup providing cloud software subscriptions. The company supplies digital services to both B2B (business) and B2C (consumer) clients globally.

Nimbus submits quarterly VAT returns. For the quarter ended 31 March, what is the deadline for submitting the VAT return and paying the VAT due electronically?

Accepted Answer

Recall the standard VAT filing and payment deadline: 1 calendar month plus 7 days after the end of the VAT period.

Question 2

What mistakes do candidates make on this ACCA question?

Accepted Answer

Selecting 30 April, forgetting the 7-day extension for electronic filing/payment.

How to approach this question

Full Answer

Common mistakes

Practice the full ACCA TX — Taxation Practice Exam 4

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