6 Oct 2014
10:00 - 16:30
40 Gracechurch Street | London | EC3V 0BT
The Foundation course covers how VAT works across the EU, using the UK as a particular example. It also considers regional differences and the basic responsibilities such as registration and submission of returns.
Worked examples are used to demonstrate the inputs and outputs of VAT. The different VAT liabilities are introduced, with particular emphasis on exemptions and the effect on recovery of input tax. The basic principles of partial exemption are also introduced at a high level.
Place of supply and time of supply (tax points) are introduced. International aspects are discussed, as they apply to insurance business.