Nov 2024

Thu 14

10:00 am - 1:00 pm

Virtual Event
VAT Within Law Firms
Get Tickets Free – £145.00

Dec 2024

Thu 12

10:00 am - 1:00 pm

Virtual Event
VAT Within Law Firms
Get Tickets Free – £145.00

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.

Coming Soon

AML 2

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, compliance teams and anyone else involved in preparing this document e.g. heads of practice areas.

Purpose of this training?

The firm-wide risk assessment is one of, if not the, most important AML documents you will have in your business. It is often described as the backbone of money laundering compliance in your firm. Once this is in place all your policies and procedures, training and due diligence will flow from it.

Regulation 18 of the Money Laundering Regulations 2017 made it a legal requirement that all firms subject to the regulations must have this written document in place. It helps to identify the risks your business faces and yet the SRA say that a lot of us are still not getting it right.
Templates may be used but it must be made very specific to your business and must be personalised to suit your firm.

The regulations tell us the five key areas to focus on – clients, geographic, products and services, transactions, and delivery channels but there are many other elements that need to be considered including proliferation financing (LSAG guidance March 2023)

If you were to get a visit from the SRA tomorrow would you and your staff be happy talking your way through this document?

This live and interactive session will cover the following:

Regulation 18 of the MLR 2017 – legal requirement
The National Risk Assessment (NRA) and Sectoral Risk Assessment – things to consider
Planning the firm wide risk assessment:
- Do I want to use a template?
- What questions do I need to ask?
- Who else needs to be involved in preparing the risk assessment?
- Where can I get my information from?
- What do I need to include?
- NEW – proliferation financing risk assessment
What resources can I use to help with putting this risk assessment together – sector specific guidance
Living document – how often do I need to review and update?

Further Information

Accounts & Finance Practice Notes

Compli-Q – Compliance FAQs

Blogs

Forum

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:

Plan	Online (1 hour)	Online (2 hours)	Online (3 hours)	On Demand	e-Learning
Non-Subscriber	£95.00	£120.00	£145.00	No Access	No Access
Org	£45.00	£90.00	£120.00	No Access	No Access
Org Plus	£0.00	£0.00	£0.00	£0.00	£0.00

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.

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Virtual Event
VAT Within Law Firms
Get Tickets Free – £145.00

Virtual Event
VAT Within Law Firms
Get Tickets Free – £145.00

On Demand Training Videos

Results

#1. Normal VAT Tax Point (time of supply) rules apply to Legal Aid work?

#3. 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?

#4. 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?

#5. Your firm is acting for a client and has instructed a process server to serve legal documents to a third party.

When including the cost of the process server in your bill of costs, you treat it as a:

#7. You instruct a medical reporting agency to obtain copy-medical 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?

#8. 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?

#9. In a 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?

AML 2

Who is this training for?

Purpose of this training?

Further Information

Frequently Asked Questions

Why Online?

Benefits?

ALCA

Help & Support

Regulatory & Terms

Connect With Us

On Demand Training Videos

Results

#1. Normal VAT Tax Point (time of supply) rules apply to Legal Aid work?

#3. 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?

#4. 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?

#5. Your firm is acting for a client and has instructed a process server to serve legal documents to a third party.When including the cost of the process server in your bill of costs, you treat it as a:

#7. You instruct a medical reporting agency to obtain copy-medical 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?

#8. 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?

#9. In a 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?

AML 2

Who is this training for?

Purpose of this training?

Further Information

Frequently Asked Questions

Why Online?

Benefits?

#3. 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?

#4. 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?

#5. Your firm is acting for a client and has instructed a process server to serve legal documents to a third party.

When including the cost of the process server in your bill of costs, you treat it as a:

#7. You instruct a medical reporting agency to obtain copy-medical 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?

#8. 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?