Introduction
The VAT rules on selling goods from the UK to the EU and buying goods from the EU have changed. The ways that VAT is collected on imports has been expanded and there are special rules for foreign businesses selling low value items to unregistered UK customers.
Some of the UK’s place of supply of services rules have changed and there was an important expansion to the zero-rating of certain goods transportation services.
Key features
What will I get out of it?
Who should attend?
The course is essential for accountants in companies that are involved in the cross-border purchase or sale of goods and/or services.
Accountants in practice who advise clients in this area would benefit from understanding the potential pitfalls that can arise and to understand where businesses could be making mistakes. It would also be helpful for other staff involved in the export or import process to understand the detailed requirements to ensure that business is compliant with its VAT obligations in the transactions it undertakes.
Speaker
Malcolm Greenbaum
The VAT rules on selling goods from the UK to the EU and buying goods from the EU have changed. The ways that VAT is collected on imports has been expanded and there are special rules for foreign businesses selling low value items to unregistered UK customers.
Some of the UK’s place of supply of services rules have changed and there was an important expansion to the zero-rating of certain goods transportation services.
Key features
- VAT implications of export of goods
- VAT on import of goods and how it can be collected
- low value goods – foreign businesses selling to UK customers and UK businesses selling to EU customers
- changes to place of supply of services rules
- expansion of zero-rating of certain transportation services
- changes to reporting requirements (VAT returns, EC sales lists and intrastats)
What will I get out of it?
- Understanding the conditions to be met to zero rate exports
- The problems of indirect exports
- Cash flow changes on accounting for import VAT
- Whether services you provide are now outside the scope of UK VAT
- Whether Instrastat forms are still required and when
- Whether you are being correctly charged VAT by freight movement suppliers
Who should attend?
The course is essential for accountants in companies that are involved in the cross-border purchase or sale of goods and/or services.
Accountants in practice who advise clients in this area would benefit from understanding the potential pitfalls that can arise and to understand where businesses could be making mistakes. It would also be helpful for other staff involved in the export or import process to understand the detailed requirements to ensure that business is compliant with its VAT obligations in the transactions it undertakes.
Speaker
Malcolm Greenbaum