Knowledge centre
Explore all the courses, articles, resources and support Mercia can offer Accountants navigating the complex world of VAT.
Featured Course
The aim of the course is to ensure that participants can deal confidently with day to day VAT issues. The course highlights some of the key areas people get wrong when completing or reviewing their clients' VAT records.
James is Mercia’s VAT trainer and consultant, specialising in VAT and indirect tax.
James began his career with HMRC before moving to the private sector in 1995 and gaining his CTA qualification. Using his specialist knowledge, James writes technical materials and delivers VAT training courses and topical VAT updates.
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VAT implications of buying and selling goods and services across borders.
As the MTD project rolls on, HMRC have announced that, for VAT periods starting on or after 1 January 2023, the default surcharge will be replaced by new penalties if VAT returns or VAT payments are late.
VAT is at the best of times illogical and confusing and never more so than in the realms of land and property. The problem is that if you get it wrong when dealing with VAT and real estate, the figures are large and mistakes are costly.
New rules are to be implemented for VAT periods starting on or after 1 January 2023. This includes a replacement of the default surcharge with a new point-based penalties system as well as changes on how VAT interest is calculated.
To familiarise participants with the basic scope of VAT and the bookkeeping entries necessary to record the VAT element of business transactions.
Our VAT file review service is flexible and is tailored to your firm’s individual needs. Typically a review will include compliance with firm procedures and manuals, and compliance with VAT legislation and case law.
This course provides an update on important changes in regard to VAT in the preceding six months and an outline of significant forthcoming developments. Major cases and changes in HMRC policy or law will be covered, with a pointer to potential problem areas for clients.
After a number of delays the new rules are to be implemented for VAT periods starting on or after 1 January 2023. The default surcharge will be replaced by new penalties if a VAT return is submitted late or VAT is paid late. There will also be changes to how VAT interest is calculated.
This session will review the key legislative changes in the past 12 months and will then focus on recurring real-life VAT issues that have arisen in practice, including the implications of the UK leaving the EU.
Our experienced in-house tax team is able to provide you with independent expert advice and assistance regarding all key direct tax matters.
HMRC have recently released Revenue and Customs Brief 10 (2022): VAT - business and non-business activities. This Brief explained how HMRC now approaches determining whether or not an activity is a business activity for VAT purposes.
A frequent grumble on social media is that overseas-based e-commerce websites are now charging significant tax and duty fees to British customers at the checkout process, even on orders costing as little as £3.50. Some members of the public are blaming Brexit, but that isn’t the case.
HMRC has announced that it has closed its VAT registration helpline from 22 May 2023, giving only five days’ notice. This decision – communicated with very little advance warning - has only served to highlight ongoing frustrations with HMRC’s processing of new VAT registration applications.
HMRC continue to highlight recent changes to VAT late filing and late payment penalties for 2023.
This course provides an update on important changes in VAT in the preceding six months and an outline of any significant forthcoming developments.
By the end of this workshop participants will have consolidated their knowledge of some key areas of VAT that were initially explored in the ‘Introduction to VAT’ and ‘VAT issues for Trainees’ modules, whilst also gaining an understanding of some of the more advanced VAT topics
The aim of the course is to ensure that participants can deal confidently with day to day VAT issues. The course highlights some of the key areas people get wrong when completing or reviewing their clients' VAT records.
To familiarise participants with the basic scope of VAT and the bookkeeping entries necessary to record the VAT element of business transactions.
In certain situations, the sale or transfer of business assets can be made VAT-free as a Transfer of a Going Concern (TOGC).
In addition to a recap on the key legal requirements for registering a business for VAT, this course includes some practical pointers aimed at getting the most out of the VAT registration process.
Partial exemption provides a framework for VAT recovery for businesses that have a mix of taxable and exempt income.
The OTT allows taxpayers to elect to charge VAT on certain supplies of commercial land and buildings that would otherwise be exempt.
Beginning with a discussion of the key principles that should be followed when determining whether VAT incurred by a business can be recovered, this course also includes a refresher on common areas of VAT recovery including motor expenses, business entertainment and employee subsistence.
Construction services can potentially be charged at different rates of VAT. This course takes a look at some of the more common examples.
The CGS determines how VAT should be recovered on purchases of certain business assets including land, buildings, computers, aircraft and boats. This course begins with a discussion of the key principles before moving on to a worked example of a CGS calculation.
James Hurst explores recent VAT tribunal cases concerning the VAT treatment of food products and considers whether the law could be changed to reduce uncertainty in this area.
Recent decisions of the Courts have highlighted how there is much more to the question ‘Can I recover this VAT?’ than merely being in possession of a VAT invoice from the supplier.
Want to learn more about how Mercia can help you promote your services and train your team? Call us on 0330 058 7141, chat to us on live chat or visit our contact us page.
