Making Tax Digital (“MTD”) came into force on 1 April 2019. It is a common misunderstanding that MTD only affects submission of VAT returns but there is more to it.

HMRC are being more prescriptive on the VAT information to be recorded in accounts. It is no longer a case of recording invoices or payments. The new rules which have the force of law require recording of individual supplies.

How we can help?

It is important for organisations to understand these new rules and how it can affect your business. Our VAT for Accounts Payable course includes a session on how to record invoices containing more than one supply, reverse charge accounting, staff expenses, petty cash and invoices where the VAT is only partly recoverable (partly exempt businesses).

What will be covered:

  • What VAT is chargeable on
  • Evidence needed to recover VAT
  • When VAT can be claimed
  • VAT coding issues
  • Non-recoverable VAT
  • Imports and acquisitions
  • Services from overseas and reverse charges
  • Specific staff expenses and costs
  • Effect of partial exemption
  • Possible changes post Brexit
  • Relevant changes in HMRC practice and policy
  • Latest developments on Making Tax Digital

You can book your place here, alternatively you can call us on 0844 873 2121 or email enquiries@quorumtraining.co.uk

 

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Tim has been involved with VAT since 1973. He joined HM Customs & Excise (“Customs”) in May 1973, shortly after the introduction of VAT in the UK. He worked as a visiting VAT inspector and as a classroom trainer. Tim left Customs in 1989 and joined accountants PKF as a VAT Consultant responsible for all aspects of VAT. He was appointed director of VAT in 1998. In October 2005, Tim left PKF to set up his own VAT consultancy and training company. In addition to presenting various training courses Tim is a consultant to a number of accountancy firms and other businesses. He has represented clients in a number of VAT Tribunal cases. These include: Croydon Hotel & Leisure Co concerning the right to deduct VAT where a supplier has not accounted for output tax. SEH Holdings Ltd which related to the disapplication of an option to tax on a public house sale and forced HMRC to change its policy. Tim has succeeded in sustaining arguments on behalf of clients with HMRC including several issues regarding the evidence to support input tax deduction and evidence of movement of goods from the UK. Tim regularly writes and lectures on a range of VAT topics. In 2005 he wrote a book on VAT and Property Transactions. He was a Council member and for three years was director of education of the Institute of Indirect Taxation. He was responsible for the entrance examination. Tim is currently an associate member of the Chartered Institute of Taxation following a merger of the two institutes.

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