VAT can sometimes feel like a minefield to accounting staff in a charity. Is our income even within the scope of VAT? If it is, is it standard rate, zero rate or exempt? Can we recover any input VAT? If so, how do we calculate what can be recovered?
With reference to VAT legislation and also case law, this course will teach you the steps that are needed to determine whether or not income is within the scope of VAT, and, if so, the correct VAT rate. It will also explain when a charity can recover input VAT, and how to calculate how much can be reclaimed.