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The aim of interactive session is to demonstrate how supplies of goods and services to overseas customers may or may not be subject to UK VAT and evidence to VAT zero-rate. It illustrates how a UK business should handle VAT obligations when receiving supplies from an overseas business, managing import VAT/PVA, and when import VAT can be reclaimed. It also looks at the circumstances in which a UK business must register for VAT overseas (eg in the EU).
Focus on VAT in International Trade is designed to provide a practical overview of the key areas where VAT affects the movements of goods, both at export and import. It will concentrate on key issues relating to customs compliance in the regulatory areas of international trade procedures and review common pitfalls that may be made by newcomers to customs and international trade. It does not, however, review VAT for e-commerce, B2C transactions and supply of services, except services that relate to the supply of goods
The training will build basic understanding in the above processes so that attendees:
Exports & Imports
• Direct and indirect exports
• Import VAT: payment and recovery
Transactions in goods between the UK and other EU countries
• Sales of goods to EU business customers
• Distance sales
• Acquisitions of goods from EU suppliers
• Special circumstances: transfer of own goods, supply of installed goods, triangular transactions
• Overview of Intrastat & EC Sales List
Transactions in services between the UK and other countries: reverse charge and general rule
Services: exceptions to the general rule
• Includes: Intangible services, admission to events
• Land-related services
• Electronically-supplied services, broadcasting and telecommunications
• Freight and passenger transport and intermediary services
• Catering
Reclaim of foreign VAT
• EU scheme
• “13th Directive” (non-EU businesses)
Record Keeping: Summary of what information/ records you should keep and for how long
Keeping Up To Date: HM Revenue & Customs
A Glossary Of Useful Terms
"The trainer was very knowledgeable and the supporting information was very good" Nordmann LTD 23/02/2022
"The ability to ask questions and the style of presenting was helpful" Andy Dishart 01/03/2021
"It was very informative and covered many of the scenarios where we were experiencing problems" Andrew Cook, Mizuno Corporation (UK) 01/03/2021