Description
Topics covered on day
- Understanding how much VAT is chargeable on your supply
- Return of Trading Details – common issues and consequences of failing to submit the VATRTD
- Accounting for VAT – Cash Receipts Basis v Sales Invoice basis. Thresholds and reporting
- VAT treatment of Services
- Comprehensive explanation of the Place of Supply of Services Rules received from abroad – understanding how to determine where the place of supply is
- VAT on Construction Services – Rules regarding VAT on a “relevant contract”. When to charge VAT, the rates applied and self-accounting for VAT
- VAT chargeable on goods and services supplied to foreign customers
- Self-accounting for VAT on Intra-Community supplies
- When does the foreign supplier have to register for and charge Irish VAT – thresholds and procedures
- Supporting documentation required when supplying goods or services to customers based outside of Ireland
- Disposal of company assets – when VAT should be charged
- VAT on Finance Charges: Hire Purchase -v- Leasing – the differences on how VAT is recovered
- VAT and Specific Business Activity – second hand margin schemes
- Making amendments to VAT returns on the discovery of an error in an earlier return
- Revenue audits – overview
These areas of VAT are the most common troublesome areas of VAT legislation and administration encountered by businesses. It is very important that any staff responsible for calculating and submitting VAT returns have a thorough understanding of the above topics and we will guide all attendees through these in an easy to understand way.
