VAT for Accounts Payable and Purchase Ledger Staff

Accounts payable and purchase ledger staff are key to claiming the right amount of VAT in any business. A sound and practical understanding of the VAT rules reduces the risk of what are now swingeing penalties for errors, and ensures optimum VAT recovery, especially in partially exempt businesses.

This course is for accounts payable and purchase ledger staff who need in-depth, detailed and practical training on this subject. It will cater for those new to VAT, and to more experienced supervisory staff who need a refresher and update on the latest rules. The course includes practical 'in tray' exercises and case studies during which delegates will analyse invoices dealing with all the points covered on the course.


Programme

Basic Principles

How VAT works
What is standard rated, zero rated and exempt- and why it matters
Evidence Needed to Reclaim VAT


Full VAT invoices - all the requirements
VAT numbers and how to check them
Retailer’s receipts and till rolls
How to process invoices for goods form inside and outside the EU
Circumstances in which no invoice is needed
Pro forma invoices and requests for payment
Invoices addressed to employees
What to do about copy and emailed invoices
Credit card and procurement card statements
When VAT Can be Claimed

Tax points
The effect of deposits
Payment with no invoice
What to do about mistakes-the new error disclosure rules
How Much VAT to Reclaim


Purchase VAT which is never reclaimable
The effect of partial exemption and 'non business' activities
Discounts - cash, quantity and contingent
Specific Expenses


Claiming back foreign VAT
Directors' expenses

Employee's expenses and subsistence

Employees resident abroad

Motor cars, motor car accessories and fuel
Business entertainment and business promotions
Staff catering and staff parties
The 'reverse charge' on services from abroad
Land and buildings

All courses will be held in central London from 09.30 - 17.00