COURSE OBJECTIVES: The course is designed to enable delegates to recognise recoverable and non-recoverable input tax and to be aware of evidence required for input tax recovery. At the end of the course delegates will be able to review typical invoices and state whether or not VAT can be recovered.
COURSE CONTENT
When VAT Can Be Claimed
- Tax points
- The effect of deposits
- Payment with no invoice
Evidence Needed to Reclaim VAT
- Full VAT invoices - all the requirements
- VAT numbers and how to check them
- Less detailed tax invoices - all the requirements and when they are acceptable
- Imports and acquisitions
- Circumstances in which no invoice is needed
- Pro forma invoices
How Much VAT to Reclaim
- Purchase VAT which is never reclaimable
- The effect of partial exemption and 'non-business' activities
- Discounts - cash, quantity and contingent
Specific Expenses
- In the 'course or furtherance' of the business
- Director's expenses
- Employee's expenses and subsistence
- Employees resident abroad
- Motor cars, motor car accessories and fuel
- Business entertainment and business promotions
- Staff catering and staff parties
- The 'reverse charge' on services from abroad
- Land and buildings
- Self supplies and change of use
WHO SHOULD ATTEND
Staff employed in the accounting teams of large, medium and small enterprises who are responsible for checking and posting purchase invoices.
"The speaker has a great knowledge of VAT and is great with helping the overall understanding of VAT."
Would you like this course run in-house? Call us on 0207 566 8207 to find out more
Not quite what you were looking for? Then please see the following closely related course;