An Inspector Calls - A VAT Audit Survival Guide for Law Firms

Introduction

The HMRC is currently targeting law firms' VAT policies and processes.

To assist you in remaining compliant, this new virtual classroom seminar will explore the practical application of the VAT regulations.

Consideration will be given to the VAT Act 1994, Notice 700 and recent case law.

Expert speaker Darren Whelan will address the issues that have emerged from VAT inspections and tribunal decisions and the implications of those decisions to law firms. He will also pose and discuss conundrums and scenarios throughout the session.

What You Will Learn

This live and interactive session will cover the following:

• Scope of VAT for law firms in the UK
• VAT rates and legal accounting/practice management systems
• Time of Supply
• Tax points for contentious and non-contentions legal supplies
• Sales/Fees
• Client’s overseas (place of ‘belonging’)
• Land and Property - direct vs indirect supplies
• Case Law
• Third Party Payers
• Indemnity basis
• VAT invoices
• Disbursement and Recharges
• What is a disbursement (Regulator & HMRC’s definition)
• Disbursement - accounting options
• Discretionary treatment/concessions
• Overseas experts
• Recharges - accounting options
• Search fees
• Medical records and reports
• Case law
• Administrative aspects of VAT
• VAT policies and VAT inspections
• Client account interest and the Partial Exemption Regulations
• Valid VAT invoices/bills
• Valid credit notes
• Recovery of input VAT
• Supplier invoices six months older or greater
• Subsistence, travel and staff entertainment expenses
• Mixed expenses (business and personal usage)
• Mobile Phones
• VAT returns
• Correcting errors
• Bad Debt Relief

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.