VAT Return Training

Knowledge of how to prepare and submit VAT Return can help you to stand out of the crowd of job seekers. Moreover, if you are running a business or thinking of running a business, the vat training course will help you to understand the issues relating to vat more clearly and help process VAT Return more accurately and efficiently.

Our VAT Training courses are eligible CPD Training for accountants and attending this course can give you more detailed understanding on how to do VAT return correctly.

What is VAT Return?

Almost every business has to submit VAT Return. VAT Return contains Output VAT and Input VAT information to be submitted to Taxman (HMRC). Through the VAT return HMRC knows exactly how much the business owes to HMRC.

Moreover, HMRC can pay back any VAT amount overpaid which only can be determined by through an accurate VAT return.

How to do VAT Return

Firstly, businesses need to register with HMRC before they can process a VAT Return. Businesses must fulfil the criteria to become VAT registered and to get a VAT Registration no. Once the business is registered they can then regularly submit the VAT return using specified VAT forms. There are many VAT Schemes available in general. There are some specialised VAT schemes available only for specific industries.

CPD Training for Accountants

This course is an eligible cpd training for accountants or other finance professional. Completion of this course will allow you to claim 6 hours for CPD purpose. Many accountants, finance professionals and other professionals are required to maintain CPD throughout the their career.

VAT Training Contents

• Understanding VAT Principles

• Analysis of different VAT Scheme

• Preparing VAT in Spreadsheet

• Reconciliation of VAT

• Completing a VAT return

• Import and Export VAT analysis

• Calculating VAT for a business with mixed zero-rated and standard-rated sales, using Spreadsheet

• Introduction of TOMS (Tour Operator Margin Scheme)

• Submission Steps of VAT Return to HMRC

• Introduction to Making Tax Digital(VAT) scheme