Introducing practical VAT - Dungannon
This introductory session is ideal for finance professionals wishing to improve their understanding of UK VAT and learn how to make practical improvements to VAT processes. It is a small group session (max 15 participants) designed to facilitate discussions on common VAT issues.
Topics covered on Introducing Practical VAT include:
- Applying the correct rates of UK VAT
- Zero-rated versus exempt supplies
- Charging VAT on sales & invoicing requirements
- Reclaiming VAT on purchases & documentation requirements
- Restrictions on reclaiming input VAT
- Buying and selling goods and services outside the UK
- VAT set-up in accounting systems
- Processes & procedures for completing a UK VAT return
- The impact of Making Tax Digital (MTD) for VAT
- Correcting an error on a VAT return
- HMRC's approach to penalties
Who can benefit from this session?
- Financial controllers
- Finance managers
- Group/company accountants
- Finance assistants
- Finance business partners
- Statutory reporting accountants
- Accounts Receivable / Payable specialists
- Risk & controls specialists
- Tax analysts
Five key outcomes from this session:
- Improved knowledge of VAT principles to increase accuracy and avoid costly mistakes.
- Appreciation of VAT implications of cross-border transactions.
- Ability to assess the strengths & weaknesses of existing VAT processes and controls.
- Know the steps to prepare for digital links for the next phase of Making Tax Digital.
- Understand how to correct errors on VAT returns and HMRC's approach to penalties.
For additional information, please contact firstname.lastname@example.org.