Registration, schemes, returns and getting invoices right.
When you must, when you might want to, and what changes on day one.
VAT is the tax small businesses find most confusing, and the reason is that it is not really about arithmetic. The rate is simple. What is hard is the timing: knowing exactly when you crossed a line, what you must do within how many days, and what happens to prices you have already quoted.
This module deals with registration, which is where the expensive mistakes happen.
Flat rate, cash accounting and annual accounting.
Once registered you choose how to account for VAT. The schemes do not change what you owe in principle, but they change the arithmetic, the timing and how much work it is. Picking well can be worth more than any expense claim in this course.
Returns, invoices, reclaims and imports.
The routine of being VAT registered: filing the return, issuing invoices that are actually valid, knowing what you can and cannot reclaim, and handling goods that cross a border. None of it is difficult, but each has a detail that costs money when missed.
10 questions covering the whole course. Score 80% or more and you get a certificate of completion. You can retake it as many times as you like.
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