NB!

• If insufficient bookings are received on any course , the course will be cancelled and a full refund will issue.

• Fees are NON REFUNDABLE except where a course is cancelled by Local Enterprise Office due to insufficient bookings. 

• LAPTOP IS REQUIRED.

INTRODUCTION TO VAT

 

This programme aims to help participants how VAT works, record keeping, book-keeping obligations and preparing to submit VAT returns

 

The course objectives

• List key actions in order to comply with VAT requirements
• Register for VAT at appropriate time
• Apply correct VAT rates
• Prepare a VAT invoice
• Explain how VAT returns are completed
• Use ROS – registering, submitting returns online, record to keep – briefly

Programme

• What is VAT? VAT explained
• Registration obligations for VAT and different options available
• Book-keeping systems and record keeping requirements (includes discussion on different software and accounting packages)
• Contact numbers for VAT related queries
• VAT rates and using the correct VAT rate
• Record keeping obligations for VAT
• Registering with ROS
• Mandatory e-filing of VAT returns and ROS demonstration
• Demonstration of filing returns online
• Record to keep when using ROS
• Preparing of mock VAT returns and practice of same
• Non deductible VAT items
• Calculating VAT rate on service which includes fitting of parts (two thirds rule explained and exercise used)
• Vat invoices and credit notes
• Bad Debt Relief

Outcome

On completion of this course participants can expect to have a good knowledge of

• How VAT Works
• When to register for VAT (at appropriate times)
• How VAT returns are completed