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This intensive and wide-ranging course is aimed at those who are responsible for VAT in their business and/or those who need to get up to speed on the fundamentals of VAT very quickly. It covers all the important areas of VAT necessary to have a practical understanding of the tax for correct management and compliance purposes
WHO SHOULD ATTEND?
Anyone responsible for the VAT affairs of a business, who is new to VAT, or who needs to improve their VAT knowledge and confidence.
BENEFITS OF ATTENDING
Participants will be able to:
Understand the scope and the essential features of VAT, including the legal aspects, and how VAT affects their particular business
Avoid incurring penalties for failure to comply
Complete the VAT return successfully
Deal more confidently with their VAT affairs
SUPPLIES, GOODS AND SERVICES
· The scope of VAT - what VAT is charged on, and what is zero rated, exempt or outside the scope
· Valuation and consideration
· VAT registration and de-registration
· Where supplies take place
· Imports and exports
· Acquisitions and dispatches
· Business and private use of goods, motoring. the ‘scale charge’
INPUT TAX RECOVERY
· Exempt supplies and partial exemption
· Evidence needed in order to claim input tax
· Blocked input tax
TAX POINTS
· Basic and actual tax points
· Deposits and continuous supplies
· Special cases and change of tax rate
INVOICES, RECORDS AND ACCOUNTS
· Full VAT invoice requirements
· Less detailed, pro-forma, self-billed invoices and authenticated receipts
· Credit notes
· Bad debt relief
SPECIAL SCHEMES
· Cash accounting and flat rate
· Margin scheme supplies
· Retail schemes
RECORDS AND ADMINISTRATION
· Completing the VAT return
· How to deal with VAT assessments and VAT visits
· Penalties and interest charges, voluntary disclosures
· Disputes and the VAT and Duties Tribunal
One day course 09.30 - 17.00
Scheduled Course Dates
28 June 2012
23 July 2012
19 September 2012
29 October 2012
27 November 2012
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