COURSE OBJECTIVES: To gain an understanding as to how VAT works and the procedures for accounting for VAT on transactions. As well as enabling attendees to gain an understanding of the general points, there will be time in the course for issues specific to individual participant's circumstances to be addressed.
COURSE CONTENT
When VAT Must Be Charged
- Using the VAT law
- Zero rating and exemption
- Outside the scope income - donations and compensation
When VAT Must Be Accounted For
- Tax points
- Exports and EU sales
- Sale or return
- Bad debt relief
- Supplies to staff
How Much VAT is Payable
- Working out the value for VAT
- Mixed and composite transactions
- Part exchange transactions
Invoicing Procedures
- VAT invoices
- Electronic invoicing
- Discounts
- Credit and debit notes
VAT Accounting Schemes
- Retail schemes
- Cash accounting
- Margin schemes
WHO SHOULD ATTEND
Anyone working in the sales accounting teams of large, medium and small enterprises who requires a basic knowledge and overview 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;