VAT Part 1 – An Introduction to UK VAT
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All in all, a good course and definitely will come back later.
← | →
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Really like the examples given and freedom to ask questions
← | →
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I totally enjoyed this course. The trainer was very knowledgable.
← | →
Course
In City of London
It has never been more important to understand the UK VAT system. Gain now an in-depth knowledge of it!
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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
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Start date
Different dates available
It has never been more important to understand the UK VAT system. The UK tax system comprises a large number of different taxes, some of which play a very important role and are paid by a large number of taxpayers. Gain now an in-depth knowledge of the VAT system works!
This course will explore the basics to undestand the UK VAT system, key rules applicable to all businesses, how VAT works, whether or not to charge VAT on a supply, what VAT can be reclaimed, and how/when to complete VAT returns. It forms a good foundation for VAT Part 2 – An Introduction to Complex Aspects and New Developments.
Facilities
Location
Start date
Start date
About this course
Anyone completely new to VAT or needs a refresher on the basics of VAT.
Reviews
-
All in all, a good course and definitely will come back later.
← | →
-
Really like the examples given and freedom to ask questions
← | →
-
I totally enjoyed this course. The trainer was very knowledgable.
← | →
Course rating
Recommended
Centre rating
Eriap Mobhodo
Natasha Macdonald
Yvonne Souter
Subjects
- Supply
- Returns
- Works
- Taxation
- Business Income
- VAT
- Taxation Law
- Accounting
- Accountancy
- Credit Control
- Taxable
- Input Tax
- Zero Rates
- VAT Registration
- VAT Invoice
- Currency Invoice
- Retailers Invoice
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
How VAT works – the theory of VAT
- Inputs and outputs
- Taxable supplies
- Zero rates, exemptions and outside the scope transactions
- Business and non-business income
VAT registration
- How and when to register
- Penalties for late registration
- Group and divisional registration
Supply
- An introduction to “deemed” supplies
- Hire purchase/conditional sale agreements
- Second hand goods
- The VAT fuel scale charge
Time of supply
Input tax
- When VAT can be recovered
- Evidence required
- Exempt or non-business supplies
- Non-recoverable input tax
- Recovering VAT on staff expenses
Records and accounts
- Requirements of a VAT invoice
- Currency invoices
- Retailers’ invoices and pro formas
- Self billing
- Credit and debit notes
VAT returns
- How to complete them and avoid penalties
- Annual, cash, flat rate accounting schemes
- How to disclose errors to HMRC
- Penalties and interest charges for errors
VAT Part 1 – An Introduction to UK VAT