Course description
Not charging VAT when appropriate gives rise to penalties. This virtual classroom seminar provides an introduction to VAT billing procedures, ensuring that VAT is charged correctly, and at the right time in all cases. The changes following Brexit will also be explored.
If you are a beginner in VAT, with limited or no prior knowledge, or require a refresher, then this live online session is for you. Join popular presenter Gwen Ryder, who has been a VAT and customs duty specialist and lecturer for her entire career, as she discusses VAT liability on UK sales, tax points, international issues, mixed and single supplies, VAT accounting schemes, and much more.
Upcoming start dates
Outcome / Qualification etc.
Training Course Content
Introduction
Not charging VAT when appropriate gives rise to penalties.
This introductory course provides certainty for VAT billing procedures, ensuring that VAT is charged correctly, and at the right time in all cases. VAT changes following Brexit are also covered.
This course covers all types of business. If you are new to your VAT role, or require a VAT refresher on the subject, especially post Brexit, then this course is for you.
What You Will Learn
This live and interactive session will cover the following:
- UK sales, VAT liability:
- What is standard rated, zero rated, exempt and 5%
- Circumstances when no VAT is chargeable including 'non business' and 'outside the scope' supplies
- What is a ‘Disbursement’? - VAT, or no VAT?
- Tax points
- When VAT must be accounted for on goods and services
- International
- Whether to charge VAT on sales of goods to EU and non- EU customers-key points
- Whether to charge VAT on services supplied to non -UK clients- key points
- Invoicing procedures - accuracy, content and issue of invoices
- Mixed and single supplies
- VAT accounting schemes
- Flat Rate, Cash Accounting, and Margin Scheme
- VAT returns
- Correct coding
- Completion and time limits
- Penalties and how to avoid them
- Error corrections
Expenses
MBL Seminars Limited
MBL is a leading learning and development provider for professional service firms. Over the past 18 years, more than 198,000 people across 23,000 different organisations spanning 81 countries, have chosen us to deliver their training. With over 800 expert speakers...