VAT Planning and Pitfalls

VAT liability (including recent and impending changes) – exempt, reduced rated, zero rated and outside the scope

Registration, deregistration and VAT groups

Transfers of going concerns

Partial exemption

• Taxable and exempt supplies
• Standard methods and what not to include
• Special methods and overrides
• Payback and clawback and the interaction with the four year cap

The VAT option to tax

• How to get it right, and when to apply
• Effect on existing leases
• Disapplications and the effect on input tax
• Anti-avoidance measures

The VAT Capital Goods Scheme

Exports – strict conditions for zero rating

Intra-EU trade in goods

• Conditions for zero rating sales
• Triangulation
• How to avoid having to register for VAT in another Member State

VAT schemes and what goes wrong

• Second hand margin scheme
• Flat rate
• Cash accounting

International services

Input tax

• Holding correct evidence
• “Blocked” input tax
• The difference between staff entertainment and business entertainment

VAT returns