It might seem an odd time to consider VAT training as the pandemic restrictions gradually ease and the UK starts up for business again. However, this is a really good time for businesses to make sure that they fully understand their VAT obligations. So much has changed due to the pandemic, not just in terms of how businesses operate but also with:
- New temporary reduced rates of VAT coming in to action that effect both suppliers such as hotels, entertainment providers, cafes, pubs and restaurants but also businesses that reclaim VAT on subsistence costs.
- The final exit from the EC at the end of December 2020 creating massive changes for how businesses deal with trading with the EC
- The first sector that has come out of lock down – construction - facing the new reverse charge that is expected to be introduced next year
- HMRC gearing back up to visit businesses but also placing an increased emphasis on remote reviews with the emphasis on assisting businesses to gain quick VAT repayments being changed to generating revenue for the exchequer from VAT assessments.
Are you or your client’s ready and prepared for these changes? Do you already feel confident that you can account correctly for your VAT? if not, or if you would simply prefer to refresh your knowledge, here at the VAT People we can assist. We can deliver bespoke VAT training either at your offices or if you would prefer on line via Zoom or Microsoft offices.
Contact our VAT helpline on 0333 3638 587 to discuss how we can help you.
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