Course overview

This course covers all the essential aspects of VAT, leaving you with a comprehensive understanding of the subject and the confidence to know that you are

dealing with VAT correctly within your company. The knowledge and awareness gained during the day will help you to avoid costly mistakes which can result

in penalties by HMRC.

It examines the key rules and regulations of VAT and the procedures and controls that should be in place to ensure VAT returns are submitted accurately and on time.

Crucially, the course also demonstrates when you charge output VAT and guides you through the input VAT you are entitled to reclaim.

It examines the key rules and regulations of VAT and the procedures and controls that should be in place to ensure VAT returns are submitted accurately and on time.

Crucially, the course also demonstrates when you charge output VAT and guides you through the input VAT you are entitled to reclaim.

 

Growing Importance of VAT

 

* Describe the way in which VAT operates, particularly in respect of output tax and input tax, in such a way that it remains neutral in its application by businesses.

* Identify how VAT applies to international transactions of both goods and services and how the system allows for neutrality by ensuring that imports and exports are

  neither advantaged nor disadvantaged over domestic supplies. 

* Discuss how VAT works within the European Union’s free market.

* Explain the impact of exemption in VAT and how tax is calculated by businesses that deal in exempt supplies.

* Categorize some of the more important administrative issues that VAT requires.

 

Course content

 

*Introduction to VAT

  -How VAT works and when it is payable

*Rates of VAT

  -Standard, Zero-rated, Exempt and Reduced-rated supplies

*VAT registration

  -Registration, De-registration and Group registration

*Time of supply rules and tax points

  -Basic and Actual tax points

*Invoicing

  -Standard and retailers invoices

  -Single and multiple supplies

  -Disbursements

  -Pro forma invoices

  -Self billing

*Reclaiming input tax

  -Motor cars and Fuel

  -Business entertainment

  -Subsistence expenses

  -Phones and internet

  -Partial exemption

*The VAT Return

  -Submission rules and completing the return

*Bad debts, errors and penalties

  -Adjustments of errors

  -Default interest and surcharge

  -Penalties for errors

*International supplies

  -Trade of goods and services within the EU

  -Exports and imports

 

Who should attend?

 

This comprehensive course will benefit anyone…

 

*Working in accounts or finance teams, where a good understanding of UK VAT is required

*Involved in processing sales or purchase invoices

*Involved in the processing of employees’ expenses

*Who completes VAT returns or is responsible for the recording of VAT

 

Course Pre-requisites:

 

*Degree or Diploma in Accounting/ Tax

 

 

Course Curriculum

No curriculum found !

Course Reviews

N.A

ratings
  • 5 stars0
  • 4 stars0
  • 3 stars0
  • 2 stars0
  • 1 stars0

No Reviews found for this course.

Get In Touch

Call Us:

+14063330596

+966591348284

Mail Us:

[email protected]

Reach Us

Global Head Office

175 Broadway, Paterson, NJ 07501, USA

BRANCH OFFICE

Sector – 72,Amex Building,Noida-201301

GCC HEAD

Zaki Uddin Farooqi

Opp Regional labour office, Dammam, Eastern Province, Kingdom of Saudi Arabia

Why Choose Erecaa?

Erecaa is one of the fastest growing training facilitator in the world. Currently we cover Africa and Middle East, and trying to serve trainees from North America, Europe and Asia. Spread over 20 Countries and 35 locations, Erecaa has become first choice of trainees who is looking to make career in Financial Modeling, Digital Marketing, VAT, Six Sigma, and Business Analytics.

We do offer these courses in form of classroom learning, online training, and live webinars. All these courses are curated with the help of known academician, and leaders from the respective industry. Our courses are the perfect blend of theoretical and practical knowledge that makes a trainee perfect for professional works.

Our Financial Modeling, Digital Marketing, VAT, Six Sigma, and Business Analytics courses can be availed by a wide-range of audience ranging from undergraduates to graduates and working professional.

Incorporation with Meritphase Pvt. Ltd.

top