VAT & Billing
VAT is a complicated and ever changing tax, famously called a "fiscal theme park" and "absurd" in recent years! With the new penalty regime meaning now more than ever you must be seen to keep abreast of changes to show you have exercised reasonable care in your affairs, it is vital that you keep up to date.
2010 saw the introduction of new rules in respect of the supply of services to other countries and completion of EC sales lists, but are you fully aware of these changes and are you getting it right?
Designed for cashiers and finance teams, this course will guide you through the new rules in a language you will understand by providing practical examples which will demonstrate the differences between the old and new rules.
Additionally we will look at the notorious area of disbursements, an issue HMRC always tends to review at control visits. Even the term itself causes problems because the meaning of the word translates differently for VAT purposes and legal purposes.
What You Will Learn
- Tax points including continuous supplies
- Invoicing rules of 2007
- The new EC Sales Lists for services
- Specific rules in respect of receipt of client account interest
- Brief summary of schemes designed to assist in paying VAT
- Are you including everything you should on the VAT Return?
- A warning regarding the penalty regime
Quick Quiz - Test Your Knowledge: Solicitors Accounts Rules
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