Legal Finance News
- SRA Code of Conduct and SRA Accounts Rules Amendments
The Solicitors Regulation Authority (SRA) published the new SRA Handbook on 6 October 2011. The SRA Handbook includes t...SRA Code of Conduct and SRA Accounts Rules Amendments - read more
- New CPD Training Course for COFA's
With the name of the individual who will act as a firm's Compliance Officer for Finance and Administration (COFA) having...New CPD Training Course for COFA's - read more
VAT for Solicitors Training
Legal Finance Professionals provide a VAT for Solicitors training course.
VAT for Solicitors
3 CPD HoursDelegates attending this course will learn about the basic operation of the VAT system within the United Kingdom and benefit from a detailed look at the main VAT issues which are likely to be of interest to those in the legal profession.
The following topics will be covered -
Introduction
- Scope of VAT within the UK
Tax Points
- Date of Supply
VAT on Solicitors Fees
- Land related services
- Place of ‘belonging’
- What is a disbursement for VAT purposes?
- Treatment of general expenses
- Disbursements - accounting options
- Discretionary treatment of Counsel's Fees
Payment of Third Party Costs
- Indemnity basis
Legal Aid
- Correct Treatment of Regular Payments from the LSC
Administrative Aspects of VAT
- VAT invoices
- Credit notes
- Recovery of input tax
- Subsistence, travel and staff entertainment expenses
- Mobile phones provided to staff
- VAT Returns & the payment of tax
- Correcting errors
- Relief for bad debts
This course is designed with the needs of sole traders and the smaller partnerships in mind but will also be of interest to legal cashiers, other finance staff and practice managers.