Tax
VAT - Calculation and Recovery
Computing VAT Liabilities, Input VAT Recovery, and Impairment Losses
1 CPD credit on completion
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Certificate on completion
Downloadable resources
Self-paced learning
About This Course
Course Information
This course takes you through the computation of VAT liabilities. It also explains how to deal with VAT losses, including their recovery.
Certificate on Completion
This course is made up of videos, questions and additional reading materials and accounts for 1 unit of CPD. One unit is the equivalent of one hour of learning.
Course Sections
This course is made up of the following sections:
- VAT Liability Computation – Video and Quiz VAT Recovery and Impairment Losses – Video and Quiz
- Additional Reading Materials
What You Will Learn
- Calculate VAT liabilities by computing output VAT on supplies and deducting recoverable input VAT
- Explain the rules for recovering input VAT, including restrictions on exempt supplies
- Apply the partial exemption rules where a business makes both taxable and exempt supplies
- Describe how bad debt relief works for VAT purposes when customers fail to pay
- Identify the conditions that must be met before input VAT on impairment losses can be reclaimed
Who This Course Is For
- Accountants preparing VAT return computations for businesses with mixed supplies
- Tax professionals who need to refresh the rules on input VAT recovery and bad debt relief
- Finance staff responsible for VAT compliance and reporting
Prerequisites
- Basic understanding of VAT concepts (output VAT and input VAT)
- Familiarity with the difference between taxable and exempt supplies
Frequently Asked Questions
Course Details
CPD Credits1
CertificateYes
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Everything included in your subscription:
CPD certificate on completion
Downloadable resources
Self-paced learning
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