VAT Partial Exemption, ‘Non-Business’ Activities & The VAT Capital Goods Scheme - An Essential Guide

Introduction

Aimed at accountants, solicitors and other advisors who are new to this area, this virtual classroom seminar will provide you with an essential guide to VAT, VAT partial exemptions, non-business activities and the VAT Capital Goods Scheme.

For those with a sound knowledge of general VAT who would like a more detailed look at the area of partial exemption, please see the intermediate level session An In-depth Guide to VAT & Partial Exemption - Maximising Recovery & Avoiding Risk

What You Will Learn

This live and interactive session will cover the following:

• Understanding how VAT works, and the principles of input tax recovery
• An explanation of the VAT exemptions and the meaning of ‘non-business’ income
• What ‘direct attribution’ means
• Calculations under the partial exemption standard method
• An explanation of the ‘de minimis’ limits
• How an ‘annual adjustment’ works and checking the calculations.
• A brief overview of:
• ‘Overrides’
• ‘Out of country’ supplies
• Alternative methods - ‘Special Methods’
• The VAT Capital Goods Scheme
• What the scheme applies to
• An explanation of how it works

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.