VAT - deduction of input tax
BPP Professional Education
Summary
Overview
This course covers the deduction of input tax by businesses. It begins by dealing with the basic requirements for a business to obtain a deduction of input tax. It then looks at the key question of whether the business seeking to deduct input tax shown on an invoice did receive the supply, and considers a number of important recent cases on this point. The special rules which apply to deduction of input tax on cars and fuel used for business purposes are covered next, leading on to a review of the impact of VAT on employee expense claims. Finally, the issues which arise when input tax deductions are claimed by businesses which make exempt as well as taxable supplies are dealt with.
CPD
Description
Learning Outcomes:
By the end of this course you will understand:
- when input tax is deductible
- the importance of determining who received the supply
- when input tax on cars and fuel can be deducted
- deduction of input tax on cars and fuel
- how input tax on employee expenses is dealt with
- input tax deduction when a business is partially exempt.
Authored by: Geoff Sykes
After qualifying with a small firm Geoff spent ten years in London with Deloittes, originally as a tax specialist, and later as National Tax Training Manager. For the next twenty years he was a tax partner in a medium sized firm based in Leeds and Kendal, advising a wide range of business and personal clients on all aspects of tax. He also has experience as a company director and as a director of a retail cooperative society.
A CPD certificate of completion will be provided by BPP Professional Education Limited upon successful completion of the online course.
CPD Points: 1
CPD Duration (hours): 1
Access: 12 months from purchase date
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Legal information
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FAQs
Interest free credit agreements provided by Zopa Bank Limited trading as DivideBuy are not regulated by the Financial Conduct Authority and do not fall under the jurisdiction of the Financial Ombudsman Service. Zopa Bank Limited trading as DivideBuy is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, and entered on the Financial Services Register (800542). Zopa Bank Limited (10627575) is incorporated in England & Wales and has its registered office at: 1st Floor, Cottons Centre, Tooley Street, London, SE1 2QG. VAT Number 281765280. DivideBuy's trading address is First Floor, Brunswick Court, Brunswick Street, Newcastle-under-Lyme, ST5 1HH. © Zopa Bank Limited 2024. All rights reserved.