VAT for Academies
Course
In City of London
Description
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Type
Workshop
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Location
City of london
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Class hours
6h
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Duration
1 Day
This course offers a detailed insight into VAT applicable to VAT registered academies including Multi Academy Trusts. It covers how to approach VAT, determine the VAT liability of non-grant income, deal with partial exemption and complete returns correctly.
Facilities
Location
Start date
Start date
About this course
Aimed at those responsible for VAT compliance in their academy and their advisers who need to ensure that it is correct in all aspects – some basic VAT knowledge is assumed.
Reviews
Subjects
- Business Income
- Returns
- VAT
- Catering
- Tax
- Sponsorship management
- Grants
- Zero Rates
- VAT for Academies
- Grant Funding
- Donations Management
Teachers and trainers (1)
Gwen Ryder
Teacher
Gwen has been a VAT and customs duty specialist and lecturer for her entire career. She worked in H M Customs (now HM Revenue and Customs) for 9 years before joining the “Big 5”. She subsequently became the VAT and Customs Partner in a top 20 firm, and then formed her own consultancy practice in 2003. Gwen is an Associate of, and former examiner for, the Institute of Indirect Tax, and a member of the Customs Practitioners Group and The VAT Practitioners Group.
Course programme
The VAT status of academies
- Grant funding – the importance of ”business” and ”non-business’ ‘activities
- Allocating costs correctly
- Taking advantage of zero and reduced rates available
Treating business income correctly
- Supplies to other educational institutions
- Uniforms and photos
- What goods and services are ‘incidental’ to education (and what are not)
- Grants, sponsorship and donations
- Catering for staff and visitors
- School trips
Land and property issues
- VAT zero rates for new construction and annexes
- Letting or leasing academy land, buildings and facilities
- The VAT option to tax
- The VAT Capital Goods Scheme
Partial exemption
- How to determine whether VAT recovery should be restricted
- Direct attribution of VAT on costs
- Recovery of ‘non-business’ input tax
- Standard and special partial exemption methods for business supplies
VAT recovery and VAT returns
- Evidence needed to claim VAT
- Blocked input tax
- How to complete a VAT return correctly
- Penalties for non-compliance
VAT for Academies