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On Demand Training Videos
As an Org Plus Plan subscriber, you have unlimited access to the On Demand training library of pre-recorded training videos. You can watch these as many times as you like at your own leisure. Questions can be posed to trainers during and after the video, with responses being provided within 2 working days. Ensure you’re logged into your account to access.
For non-subscribers and all other plan subscribers, access can be purchased separately.
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#1. You’re acting for a client in respect of a compromise agreement. The employer has agreed to pay your client’s costs and has asked if you would address your invoice to them?
What would you issue the payer?
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#2. What is the name given to the VAT that is due on your taxable supplies i.e your fees/expenses and vatable disbursements?
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#3. Your firm operates under the VAT Cash Accounting Scheme. Which of the following are excluded from the scheme and must be accounted for under the VAT Standard Accounting Scheme?
Select all that apply:
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#4. You receive an invoice from an overseas supplier for £100 (without VAT) but you would have been charged £20.00 VAT if you’d used a UK supplier.
What figures would you need to put on your VAT return and in what boxes would you put them?
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#5. You have instructed an interpreter in order for your client to be able to communicate with you or to enable your client to understand Court proceedings. The cost of the interpreter is being passed on to the client. When billed, the cost is:
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#6. In a non-contentious case, the VAT tax point will be the date of the invoice, provided the invoice is issued within how long after the work is completed?
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#7. You instruct a medical reporting agency to obtain copy-medico legal documents on behalf of a client that has been involved in a road traffic accident.
Is this cost a disbursement for VAT purposes or a recharge?
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#8. To be valid for VAT purposes a credit note must be issued within:
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#9. You pay the firm’s practising certificates from the business account.
When posting the transaction, What VAT rate should you select when posting the payment to the accounting system?
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#10. You’re acting for an asylum seeker where the client’s right to remain has not yet been granted. The client has now been arrested and is in a UK prison.
When issuing your bill to the client for the immigration work, your services are:
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AML 1
Speaker: Jo Morris
Length: 1 Hour
Published July 29, 2023 Last Updated on July 29, 2023
Who is this training for?
This online workshop is for MLRO/MLCO, partners, fee earners, legal assistants and anyone that has any involvement in working in legal finance and compliance.
Purpose of this training?
According to the latest SRA Anti-Money Laundering Report released in November 2022, the SRA supervise the AML requirements of 6,408 law firms in England and Wales.
During that reporting year they undertook 163 inspections, 109 desk-based reviews and brought 140 firms from partial compliance into full compliance.
The SRA continue to grow their AML Team and plan more visits than before for the next year. Most firms are trying their hardest to get things right and stop the criminals using our firms but they are still lots of improvements to be made.
So, what happens when the SRA inform you that they want to come for a visit?
For some there may be sleepless nights but it doesn’t have to be that way. With a little knowledge and some preparation you can get through this.
Do not take it as something negative but as a chance to get an MOT and be given a clean bill of health in-line with the with the AML regulations and requirements.
This live and interactive session will cover the following:
- Why have you been chosen for a visit?
- What happens after that initial contact?
- Which documents will the SRA ask you to produce?
- What will happen on the day of the review?
- What will happen after the visit?
- How to get your firm and your staff prepared to make this a smooth experience
Practice notes and training sessions represent the Association of Legal Compliance & Accounts’ view of good practice in a particular area. They are not intended to be the only standard of good practice that firms can follow.
Practice notes and training sessions are not legal advice, and do not necessarily provide a defence to complaints of misconduct or poor service. While we have taken care to ensure that they are accurate, up to date and useful, we will not accept any legal liability in relation to them.
Frequently Asked Questions
Why Online?
All ALCA online training is delivered live, interactive and is recorded. We bridge the gap between ‘face-to-face’ and online training by applying a blended approach. Questions can be posed to trainers throughout the workshops with quizzes/polls being used to engage with attendees.
Workshops can be continuously replayed for 30 days after broadcast.
Benefits?
- Reduced cost
- Can be taken anywhere on any device – no travel time or cost
- Shorter and more efficient than face-to-face
- Live and interactive
- Recorded and can be replayed at your leisure
Depending on your subscription and the length of the workshop, the pricing is as follows:
Our online workshops are delivered via Zoom. You can access the session via your computer, tablet or mobile device.
We recommend you run a system test and check your internet speed by clicking HERE.
If your firm prevents you from using Zoom, please contact us.
There is no requirement to attend live but we advise that you do where you can as this will be the best experience for you. Don’t forget, you can pose questions live to the trainer and join in with the interaction when you attend live. Also, be mindful that you have access to the recording for 30 days, after which, it will no longer be available.
Not at all. We prefer it if candidates do as it makes the training more engaging but it is not mandatory to turn your camera or microphone on during the training session.
If you don’t have a microphone, you can still pose questions using the chat facility.