VAT Training Courses in Merton Park

"VAT Courses in Merton Park cover all HMRC VAT schemes and are delivered on widely used Accounting Software to enhance Practical skills. Become Employable with our VAT Courses."

Knowledge of how to prepare & submit VAT Returns can facilitate you to stand out from the crowd of job seekers. Moreover, if you are running a business corporation or planning to start a new business, the VAT practical accounting training course will aid you to understand each and every detail related to vat more clearly. Moreover, it will help inprocessing VAT Return more precisely and efficiently. Our VAT Practical Training courses make you eligible for CPD Training for bookkeepers. Furthermore, attending this course can give you a more thorough knowledge of how to do a VAT return properly.

What Is A VAT Return?

A value-added tax (VAT) Return determines the VAT a company should pay or expect to recoup, by HMRC. VAT returns and payments are typically due every three months to HMRC.

The amount payable to HMRC or the amount of any refund due can be determined by filing a VAT Return. HMRC will reimburse you the difference between the VAT you paid on sales and the amount you are entitled to recover.

To compare, consider the annual tax returns filed by shareholders of limited liability companies, sole proprietors, and self-employed individuals, where tax is paid on declared profits.

Suppliers may tack on value-added tax (VAT) to the price of goods and services purchased by businesses. All of these purchases that include VAT must be recorded. Then, before making a sale to a customer, you should determine whether or not the sale constitutes a "taxable supply."

Any business whose turnover is more than £85, 000 they have to register and submit a VAT Return to HMRC. To understand the concept of VAT Return is Output VAT and Input VAT which the business needs to submit to the HMRC. The different VAT schemes are Standard VAT scheme, Cash VAT scheme, Flat rate scheme, and Margin VAT scheme.

How To Do VAT Returns?

When a business has reached its threshold for VAT, they have to register with HMRC before it can process a VAT return. When registering for a VAT return, the company should choose the correct VAT scheme. Businesses should fulfil the criteria to become VAT registered and to get a VAT Registration number. Once the registration is completed, they can then submit the VAT returns using specified VAT forms. There are many VAT return Schemes available in general and for specific industries. This course is suitable for qualified accountants, finance professionals, and other professionals that are required to maintain CPD throughout their careers.

VAT Courses Contents:

Analysis of different VAT Scheme
Preparing VAT in Spreadsheet
Reconciliation of VAT
Import and Export VAT analysis
Calculating VAT for a business with mixed zero-rated and standard-rated sales, using a Spreadsheet
Introduction of TOMS (Tour Operator Margin Scheme)
Understanding VAT Principles
Submission of VAT Return to HMRC

All businesses are required to present their VAT returns. It involves the input and output of VAT information to HMRC. It is to inform them how much businesses they owe. HMRC also pays back the additional VAT amount for overcompensation; however, you need to make accurate estimates of VAT returns.

What you will learn?

After concluding this course, you will be able to:

Describe how VAT works, particularly in respect of output tax and input tax, in such a way that it rests neutrally in its application by businesses.
Discuss the foundation of VAT, some of its benefits and drawbacks and how it outfits into the tax mix around the world.
Deliberate how VAT works within the European Union’s free market.
Classify some of the more critical administrative issues that VAT requires.
Explain the impact of exceptions in VAT and how tax is calculated by businesses that deal with exempt supplies.
Use the company’s trial balance to fill up a VAT return
Explain how to account for VAT on buying and selling of goods or services whether the entity is registered in VAT or not
Express a preliminary assessment on the impact of VAT approval of operations and accounts

VAT Courses Targeted Audience

The Value Added Tax -VAT courses program is appropriate for those who are working in accounts, Tax department, sales and purchasing, payable and account manager, receivable accounts, CEO, finance manager, Entrepreneurs, etc

Moreover, Staff accountants, chief accountants, accounting managers, senior accountants, internal auditors, controllers, tax preparers, tax consultants and other professionals in the bookkeeping and finance functions can join this VAT Course.

Target Competencies

Understanding for VAT
Prepare VAT Return
Accounting of VAT

VAT Courses Requirement:

This VAT course introduces the basics of value-added taxes- VAT. No prior knowledge is required to start this course.

VAT Courses Near Merton Park And Wimbledon

Our VAT Courses use scenarios which demonstrate how to deal with VAT on an international basis. There are additional VAT Rules for cross-border transactions and international services. Our seminars focus on the complex VAT treatment related to international services.

On completion of our VAT Courses you will have:

Knowledge and practical experience in using computerised bookkeeping and payroll packages such as Sage, Sage Payroll, IRIS, QuickBooks, VT or TAS
Proficiency in using MS Excel spreadsheets

VAT Return is suitable for all accountants and finance professionals to update their skills and knowledge of VAT primary rules and principles applicable to businesses.

It is also valuable for individuals who desire to refresh their skills and knowledge to work in the VAT sector. So if you want to learn value-added tax (VAT) then join our practical VAT Courses. For more information, visit our website or contact our representative. Timely and reasonably priced VAT training in the UK is guaranteed by our staff of trained tax consultants, financial specialists, and tax accountants.

At Future Connect, we offer flexible VAT courses as we are open for the whole week, which let you decide the days of your practice. Classes are held in our training centres at Harrow and Finchley near the Finchley Central tube station that is at the Northern Line from Merton Park (SW19) and Wimbledon (SW20).