VAT Training Courses | Accounting Training Merton Park, London

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