Value Added Tax (VAT) Fundamentals

Did you know that in the UK, Value Added Tax (VAT) is the third-largest source of government revenue, after income tax and national insurance? In fact, according to recent statistics, the government collected £132 billion in VAT in 2020 alone. With such a significant contribution to the economy, it's no wonder that VAT compliance is essential for businesses of all sizes.

Whether you're a business owner, accountant, or simply interested in the world of finance, our VAT Fundamentals course is the perfect way to gain a comprehensive understanding of this complex tax.

Learning outcomes

• Understand the basics of VAT and its application in goods, services, and vehicles
• Learn the terminology and calculation methods, including rates and taxable persons
• Know the registration process and requirements
• Understand the importance of invoicing and record-keeping in VAT compliance
• Become familiar with the VAT return and tips for staying compliant
• Understand VAT exemptions and zero-rated VAT
• Gain knowledge of miscellaneous issues and penalties, and learn about Making Tax Digital

If you're a business owner, accountant, or anyone looking to gain a comprehensive understanding of Value Added Tax (VAT), our VAT Fundamentals course is perfect for you. This course is designed to provide you with an understanding of VAT, covering all aspects of the tax, from basic principles to more complex issues such as exemptions, zero-rated VAT, and penalties.

Our course consists of 13 modules, each focusing on a specific aspect. You'll begin by learning the basics of VAT and its application in goods, services, and vehicles. From there, you'll delve into the terminology and calculation methods of VAT, including rates and taxable persons. You'll also learn about the registration process, invoicing and record-keeping requirements, and tips for staying compliant with regulations. In addition, you'll gain knowledge about exemptions, zero-rated VAT, and miscellaneous issues and penalties, and discover the benefits of Making Tax Digital.

By the end of this course, you'll have a thorough understanding of VAT and the skills needed to comply with regulations, helping you to manage your business more effectively. So why wait? Join our course today!

Course Curriculum:

Essentials of UK VAT

• Module 1: Understanding VAT
  
• Module 2: VAT Terminology and Calculation
  
• Module 3: VAT Taxable Persons
  
• Module 4: VAT Registration
  
• Module 5: VAT Rates
  
• Module 6: Invoicing and Records
  
• Module 7: VAT Application in Goods, Services and Vehicles
  
• Module 8: Supply
  
• Module 9: The VAT Return
  
• Module 10: Tips on VAT Compliance
  
• Module 11: VAT Exemptions and Zero-Rated VAT
  
• Module 12: Miscellaneous VAT Issues and Penalties
  
• Module 13: Making Tax Digital

This course is particularly useful for:

• Business owners who need to manage compliance
• Accountants who want to enhance their knowledge of VAT
• Anyone who wants to gain an understanding of VAT
• Individuals who are planning to start their own business

• VAT Administrator - £18,000 - £25,000 per year
• VAT Assistant - £22,000 - £28,000 per year
• VAT Analyst - £28,000 - £40,000 per year
• Manager - £40,000 - £70,000 per year
• Consultant - £45,000 - £90,000 per year
• VAT Director - £80,000+ per year (depending on company size and experience)

Currently there are no Q&As for this course. Be the first to ask a question.

Certificate of completion

Digital certificate - £9.99

Certificate of completion

Hard copy certificate - £15.99