VAT Part 1 - An Introduction to UK VAT

Quorum Training - A Wilmington Company

Course summary

1 day

545 GBP excl. VAT

Quorum Training - A Wilmington Company

Open / Scheduled

Next available date: 28/01/2020 09:30 - London

4.8 (5 Reviews)

Course Dates

London

28/01/2020 09:30

545 GBP

27/02/2020 09:30

545 GBP

16/03/2020 09:30

545 GBP

29/04/2020 09:30

545 GBP

19/05/2020 09:30

545 GBP

25/06/2020 09:30

545 GBP

Show all (8)

Course description

A course by Quorum Training - part of the Wilmington Group

VAT Part 1 - An Introduction to UK VAT - a 1-day training course in London

This course covers the basics of VAT and the key rules applicable to all businesses. The course is designed to offer delegates a thorough understanding of how VAT works, whether or not to charge VAT on a supply, what VAT can be reclaimed on costs, and how and when to complete VAT returns.

The course forms a good foundation for VAT Part 2 - An Introduction to Complex Aspects and New Developments.

Suitability - Who should attend?

Anyone who is completely new to VAT, or who needs a refresher and a thorough grounding on the basics of VAT.

Outcome / Qualification etc.

CPD 6 hours

Training Course Content

How VAT works

The theory of VAT
Inputs and outputs
Taxable supplies
Rates of tax
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

What is a supply of goods or services?
An introduction to "deemed" supplies
Hire purchase and conditional sale agreements
Second hand goods
The VAT fuel scale charge

Time of supply

When VAT becomes due to HMRC
Deposits and continuous supplies

Input tax

When VAT can be recovered
Evidence required
The effect of making 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 properly and avoid penalties
Annual, cash, and flat rate accounting schemes
How to disclose errors to HMRC
Penalties and interest charges for errors

Expenses

The price per place for this course is £545 plus VAT.

Contact Quorum Training for pricing details for running this course in-house. The price will include pre-course discussions with the trainer, supporting course materials and delivery of a practical, interactive course that meets your training needs.

About provider

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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