VAT for Accounts Receivable

Quorum Training - A Wilmington Company
Course summary
3 hours
195 GBP excl. VAT
Online courses

Course description

VAT for Accounts Receivable

VAT is a complex tax which has its own peculiar rules and logic. The concept of declaring the right amount of tax at the right time is fine in theory but difficult in practice. Staff responsible for sales ledgers or raising and posting sales invoices need detailed knowledge on the basic principles of VAT. Getting the liability or the timing of a transaction wrong can be costly in terms of penalties and by reducing the profit margin on the transaction concerned.

Typical questions and problems include:

  • is this invoice zero rated or exempt?
  • is VAT chargeable on sale of assets to staff?
  • this invoice is being issued to an overseas customer, is VAT chargeable?
  • is VAT chargeable on rent for company property?
  • when do we have to issue a VAT invoice?

The aim of this VAT for Accounts Receivable training course is to guide participants through a series of general topics and for them to gain an understanding or improve their knowledge of how VAT works as regards sales issues and accounting procedures. In addition to general points there will be time during the course for participants to raise issues specific to a delegate’s individual circumstances.

VAT was introduced when the UK joined the EU but will remain following the UK’s exit. There will have to be changes to the VAT system, particularly relating to goods and services sold to customers in the EU. This course will consider the likely changes and how they will affect accounting systems.

CPD Hours: 3

Suitability - Who should attend?

Anyone working in the sales accounting teams of large, medium or small enterprises who require a basic knowledge, overview or refresher of VAT theory and procedures. The course is suitable for delegates with no or limited prior knowledge but also for those who require a refresher.

Training Course Content

  • Definition of taxable supplies
  • Management and other inter company charges
  • Tax invoices
  • Tax points
  • Exports, dispatches and Brexit update
  • Making Tax Digital update
  • Coding and completion of VAT returns

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About provider

Quorum Training - Accounting, Finance, Tax & Business Operations Training

Quorum Training - Business and Finance Courses for Professionals

Quorum Training provides a range of specialist courses designed specifically for business and finance professionals, covering such topics as: Accounting and finance Taxation VAT Governance Risk and compliance Financial markets and corporate treasury Charities Management and leadership Courses are available...

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Quorum Training - A Wilmington Company

5th Floor, 10 Whitechapel High Street
E1 8QS London

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