VAT Training

VAT training helps learners to understand what VAT is, how to calculate VAT, What VAT Returns is, How to compile VAT, How to register VAT and what items are exempted in VAT.A value-added tax, known as a goods and services tax, is a type of charge that evaluates gradually. Similar to Income Tax, VAT based on the increase in the utility of a product or service at each stage of distribution or production.

  • 8 Months
  • 16 Sessions
  • Advanced
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Course Overview

The standard rate of VAT in the UK is currently 20%, and this is the rate charged on most purchases. However, there are other VAT rates which you need to be aware of as a business. Reduced rate VAT charged on sanitary products, energy-saving measures and children's car seats charged at 5%.VAT or value-added tax is a tax based on the value of goods or services. The VAT charged when a VAT-registered business sells products or services to another company or a non-business customer. If a business is a VAT registered, they can reclaim the VAT they have paid on purchases.

Definition of a VAT exempt

VAT Exempt means if a seller sells the goods and services he won't charge anything from any customer neither while buying the same product, he needs to pay VAT. In case if the seller makes some exempt sales, he won't reclaim VAT at any costs he incurs while making the payment.

Value-Added Tax Examples

A value-added tax (VAT) is a tax levied on the product at every time during a sales where value has attached, starting from raw product and going all the way to the final retail purchase.

Illustration, if a product costs £100 and there is a 20% VAT, the consumer pays £120 to the merchant.

VAT-exempt items

As the cost of living is always on the rise, a few essential food products remain zero-rated.

During 2018 mid-term budget announced that the VAT-exempt list would include more three items from 1 April 2019. VAT-free product is as follows brown bread, milk, eggs, vegetable oil, vegetables, rice, cake flour, lentils etc.

Course Details

  • Our VAT Training, Accounting and Bookkeeping practical training equips you with all the skills and knowledge to manage finances, daily record dealings, document journals and ledgers.
  • Recording transactions such as receipts, expenses, sales and purchases
  • In Accountancy/Bookkeeping, financial transactions were written down daily to record all the financial data of the business. Companies use different accounting software like QuickBooks, Xero, MS Excel spreadsheets and Sage to maintain these transactions data.
  • Our hands-on VAT training on real client files can make all the difference for you. Having expertise and qualified Trainers to train you for accounting software will improve your current position and our recruitment team will guide you in finding a perfect job for you as soon as you complete your training with Future Connect.
  • Our VAT Training course will assist you how to maintain and prepare records of all the transactions related to purchase and sales which applies to all UK businesses.
  • VAT return records things like the amount of VAT you can reclaim the amount of VAT you owe, total sales and purchases, VAT refund from HMRC.
  • Future Connect has organised a structured course that explains the Reconciliation of VAT, Import and Export VAT calculation and the uses of different VAT schemes and also preparing VAT in MS Excel with the use of Spreadsheet and Bookkeeping through SAGE software.
  • This course will give you useful, practical experience and working Knowledge
  • On the various Accountancy /bookkeeping practices and methodologies are essential for a store and record financial information daily.
  • This training is structured to give you a practical, as well as theoretical knowledge about Bookkeeping accounting principles and Tax Returns.
  • Our CPD Certified Accountancy professionals will train you. Our unique approach of blending the essential theoretical concepts and practical skills give you a substantial competitive advantage in your Resume to get an accounting job.

VAT Training:

  • More in-depth understanding and Knowledge of different VAT Scheme
  • Analysing and Updating of flat-rate schemes Cash, Standard, in every Software.
  • Understanding the different other policies related to VAT on goods from EU Countries.
  • Keeping a general record of the matters related to Acquisition Tax.
  • Upgrade Knowledge Tax related matters on goods purchased from non-EU countries, and how to process and apply for EORI.
  • Claiming relief on the products returned outside the EU
  • Choosing and Analysing the suitable VAT quarters
  • Analysis of all spreadsheets related transactions
  • Proper interpretation of VAT related to mixed operations, standard-rated items, identifying the zero-rated performing a bank reconciliation and calculate the VAT return
  • Introducing to various VAT industry-specific issues for Retail, IT, Construction industries etc.
  • Perform a VAT reclaim and Writing off bad debt
  • Knowledge about how to perform VAT adjustments
  • For a better understanding of how to work on VAT regularly

Enroll with us

Located in London, mile end, Harrow and Birmingham. Feel free to call us on 02037908674 or 01212959988 where you can speak to one of our experienced Consultants or arrange a web demonstration to see which VAT training course is right for your business. Email us on

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