Course: Good VAT Practice

There are many transactions where the VAT treatment is not as expected and where incorrect accounting results in substantial assessments. This course will also discuss transactions where the VAT implications are frequently overlooked.

Course summary:

Introduction

Identifying all taxable transactions

Place of supply rules

Time of supply rules & tax point

VAT invoices

The VAT return

Completion of the VAT return

Right to reclaim input tax

Bad debt relief

Payment & repayment of VAT

Payments on account scheme for large traders

Special circumstances

Group registrations

Partial exemption

Self-billing

Dealing with HM Revenue & Customs

Control visits

Typical errors

Voluntary disclosure of errors

Penalties for late submission & errors

Recent developments

Topical issues

Course suitability:

People who complete VAT returns or who are responsible for the accuracy of VAT recording systems. Also suitable for staff who wish to develop further the skills achieved by attending ‘VAT Essentials’. This course assumes some knowledge of VAT procedures.


The course lasts for 1 day - Cost of this course is £295+VAT