Key features:
- Supplies.
- Distinguishing between ‘business’ and ‘non-business’ income for VAT.
- How does the VAT exemption for education work?
- Who qualifies as an eligible body?
- Vocational training, distance learning, e-learning and private tuition.
- Goods and services which are incidental to education.
- English as a foreign language.
- Supplies to other educational institutions.
- Overseas students.
- Grants or sponsorship?
Land and property issues
- VAT and construction costs-standard rates, zero rates, the 5% business concession and ‘clawback’.
- Conferences and conference facilities, student accommodation and holiday lets.
- Leases and licences to occupy land, and the VAT Option To Tax.
Partial exemption
- Direct attribution; standard and special methods; recovery of VAT on overheads.
Input tax and records
- The zero rating for advertising, and equipment bought with donated funds.
- Evidence to support input tax claims.
- Making voluntary disclosures to HMRC.
At the end of the course you will be able to:
- Analyse supplies made, and to be made by your educational institution, assign the correct VAT liability to each and plan effectively.
- Understand partial exemption and non-business apportionment methods.
- Recover the correct amount of VAT, supported by the correct evidence, on a correct VAT return.
