An A-Z of VAT in 2 Days

Introduction

This is an intensive and wide-ranging two-day VAT course.

This course covers all the important areas of VAT necessary to have a practical understanding of the tax for correct advisory, management and compliance purposes, and to have an understanding of the relevant VAT legislation. Latest case law is covered at the relevant points.

Participants will be able to:

• Understand the scope and the essential features of VAT, including the legal aspects, and how VAT affects their client's business
• Avoid incurring penalties for failure to comply
• Deal more confidently with their client's VAT affairs

What You Will Learn

This course will cover the following:

• The scope of VAT
• The difference between supplies of goods and services
• ‘Deemed’ supplies
• What VAT is charged on, and what is zero rated, exempt or outside the scope of VAT
• Single and multiple supplies
• Valuation and consideration
• VAT registration and de-registration
• Non-supplies and transfers of going concerns
• Goods
• Place of supply
• Imports, exports and intra EU trade post Brexit
• Triangulation and chain transactions
• International services
• General Rule
• Exceptions to the General Rule
• Determining the place of belonging
• Special rule for Specified supplies
• The effective use and enjoyment shift
• The Mini One Stop Shop (MOSS)
• Recovering VAT charged in EU and non-EU countries
• The Reverse charge
• More on deemed supplies
• Business and private use of goods, motoring, the 'scale charge'.
• Anti-avoidance legislation for free or private use of assets
• VAT Groups
• Basic requirements, conditions and benefits
• Cross border VAT groups
• Anti-avoidance legislation
• Land and property issues
• Zero rated supplies and construction
• Commercial property and the VAT option to tax
• Disapplication and anti-avoidance measures
• Input Tax Recovery
• Exempt supplies and partial exemption
• Standard and special methods
• The VAT Capital Goods Scheme
• Evidence needed in order to claim input tax
• Blocked input tax and business entertainment
• Tax Points
• Basic and actual tax points
• Deposits and continuous supplies
• Anti-avoidance accommodation tax points
• Input tax
• Full VAT invoice requirements
• Less detailed, pro-forma, self-billed invoices and authenticated receipts
• Credit notes
• Bad debt relief
• The criteria for correct claims
• Blocked input tax and business entertainment
• Special Schemes
• Cash accounting and flat rate
• Margin scheme supplies
• Retail schemes
• Tour Operators Margin Scheme
• Records & Administration
• Completing the VAT return
• How to deal with VAT assessments and VAT visits
• Penalties and interest charges, and the error correction system
• Disputes, appeals, and the VAT and Duties Tribunal