VAT - deduction of input tax

Overview:

This course covers the deduction of input tax by businesses. It begins by dealing with the basic requirements for a business to obtain a deduction of input tax. It then looks at the key question of whether the business seeking to deduct input tax shown on an invoice did receive the supply, and considers a number of important recent cases on this point. The special rules which apply to deduction of input tax on cars and fuel used for business purposes are covered next, leading on to a review of the impact of VAT on employee expense claims. Finally, the issues which arise when input tax deductions are claimed by businesses which make exempt as well as taxable supplies are dealt with.

 

Learning Outcomes:

By the end of this course you will understand:

  • when input tax is deductible
  • the importance of determining who received the supply
  • when input tax on cars and fuel can be deducted
  • deduction of input tax on cars and fuel
  • how input tax on employee expenses is dealt with
  • input tax deduction when a business is partially exempt.

CPD Points: 1

CPD Duration (hours): 1

Access: 12 months from purchase date

Price: £30.00 (excludes VAT)
Quantity: