VAT Problem Areas & Solutions

Objectives

To identify the areas within VAT that cause the most issues and apply practical steps to assist and advise businesses in dealing with these.

To appraise areas within a business that may be at risk from a VAT perspective because adequate procedures are not in place and then be able to advise that business of the improvements they can make.

Content:

• The steps to successful VAT bad debt relief claims
• Recovering input VAT – what are the issues to consider prior to claiming VAT back on expenditure?
• Employee expenses – what can and can’t be claimed?
• International trading – breaking down the minefield of VAT rules in respect of trading internationally in goods and services
• Summary of the main misconceptions around property transactions to include service charges and sub-letting of property
• Tax codes – the importance of ensuring the correct codes are allocated to items of expenditure
• Accounting for VAT on vouchers – the issues
• Top 10 most common errors made by businesses with their VAT returns
• How to adjust for VAT errors including examples of correspondence that can be used to disclose