Introduction to VAT

In addition to your class tuition and study materials, you will receive the following:


Other Extras

• Worked example showing how to complete a VAT return.
  
• Certificate of attendance

Level: Introductory


Synopsis:
This half day course will take you through the VAT return, providing delegates with a comprehensive overview of how a VAT return is computed, the rules for registration and deregistration and relevant due dates.


At the end of the course participants will be able to: Understand the concept of VAT . Understand the different rates of VAT . Have an awareness of the differences between exempt and zero rated supplies . Understand when special schemes apply . Understand how to complete a VAT return .


Prerequisites:
None - assumes no previous knowledge


Suitable For:
Any professional interested in an overview of the key principles and rules relating to VAT.


Introduction

• The scope of VAT
• Explanation of terms (output VAT, input VAT, taxable supplies etc.)
• Registration and deregistration rules

VAT rates

• Zero rated and exempt supplies
• Standard rated and reduced rated supplies

Special schemes

• Cash accounting
• Annual accounting
• Flat rate scheme

VAT return

• How to complete a VAT return