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

Knowledge of how to prepare & submit VAT Return can facilitate you to stand out of the crowd of job seekers. Moreover, if you are running a business corporation or looking of running a business, the VAT training course will aid you to understand the topics relating to vat more clearly and help process VAT Return more precisely and efficiently. Our VAT Training courses are eligible for CPD Training for bookkeepers and attending this course can give you a more thorough know how to do a VAT return properly.

What is a VAT Return?

Any business whose turnover is more than £85, 000 they have to register and submit 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, Margin VAT scheme.

How to do VAT Returns?

When a business has reached its threshold for VAT, they have to register with HMRC before they can process a VAT return. When registering for 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. There are some specialised VAT return schemes available only for specific industries. This course is eligible for qualified accountants—many, finance professionals, accountants and other professionals that are required to maintain CPD throughout their career.

Course Contents:

While it is titled “Introduction of VAT” which is offered, accounting and finance professionals can attend the “Accounting for VAT” course for professional; however, they will not be capable to avail the special discount specified. The course uses a mix of collaborating techniques, such as brief managements by the consultant, application of theories and group training to exchange experience and apply knowledge learnt throughout the course.

Understanding VAT Principles
Reconciliation of VAT
Analysis of different VAT Schemes
Completing VAT returns
Import and Export VAT analysis
VAT Calculations
VAT Adjustments
Calculating VAT for a business with transactions of sales and standard-rated sales, using Spreadsheet
Submitting VAT Returns through software to HMRC or through the HMRC website.

Course Objectives

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.
Identify how VAT applies to transactions of both things and services and how the system permits for neutrality by confirmingthat imports and exports are neither benefits and drawbacks over domestic supplies.
Classify some of the more critical administrative issues that VAT requires.
Explain the impact of exception 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 sales of goods or services whether the entity is registered in VAT or not
Express a preliminary assessment of the impact of VAT approval on operations and accounts

Target Audience

Staff accountants, chief accountants, accounting managers, senior accountants, internal auditors, controllers, tax preparers, tax consultants and other professionals in the bookkeeping and finance functions;

The Value Added Tax -VAT Training course 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

Target Competencies

Understanding for VAT
Prepare VAT Return
Accounting of VAT

Training Requirement:

This course introduces the basics of value-added taxes- VAT. As such, no great knowledge of VAT is pre-requisite as the course will form from the complete basics through to some of the more composite issues such as exemption and globally traded services. This course looks at both the EU system of VAT & also at some of the developments in states that have adopted value-added taxes-VAT in more recent times. Given the significance of VAT in the European Union, the course will reflect some of the specific issues that apply to trade amongst the EU Member States.

While this VAT training course is suitable for practising specialists, it is also beneficial as added study material in formulating for the CIOT examination - Advanced Diploma in International Taxation.

VAT Training Course near Merton Park and Wimbledon

Having good knowledge about VAT and how to prepare and submit VAT returns will make you stand out of the crowd. If you want to apply in an accounting firm or to run a self-employed business or are planning to do so, our course will help you understand the various terminologies and issues related to VAT more clearly and help process VAT returns more accurately and efficiently. Our CPD certified trainers provide hands-on practical training to get an edge in the accounting industry.

Upon the completion of the course, you can confidently apply for roles such as VAT Administrator, VAT Assistant and VAT Accountant etc. We give our practical training with our integrated courses, i.e. Bookkeeping Course, Payroll Course, Accounts Assistant Course, Management Accounting training and Final Accounts Course.

At Future Connect, we offer flexible training as we are open all days of the 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 serves the Northern Line from Merton Park (SW19) and Wimbledon (SW20).