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 3

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, compliance teams and anyone else involved they may be involved in these risk assessments.

Purpose of this training?

In the world of AML we have several layers of risk assessment. The two top level risk assessments are firstly, the National Risk Assessment (NRA) followed by the SRA Sectoral Risk Assessment.

The next level down is the practice wide risk assessment (PWRA), a legal requirement under Regulation 18 of the MLR 2017 and one of the most important pieces of AML documentation in our firm.

Often forgotten are the final two risk assessments – client and matter. The client risk assessment is part of the CDD process and you must consider the risks of each client paying particular notice to your practice wide risk assessment. The more you get to know your client and understand the instructions they are giving you, the better placed you are to assessment risk, know when something appears suspicious and therefore protect your firm.

Matter risk assessments focus on the specific risks that a matter presents. These risk assessments should not be a tick box exercise but should identify risks with reference to your PWRA, rates the risks and then, justify the ratings using a support rationale. Although matters may be of the same type every matter is different.

This live and interactive session will cover the following:

What needs to be considered when putting together a client and matter risk assessment – client, location, PEP, source of wealth and source of funds
Templates?
What does the relevant guidance say
Relevant questions to ask to determine risk – not just a tick box exercise
Difference between a person and entity client and matter risk assessment
Ongoing monitoring of risk
Additional information that may be included on these risk assessments

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.

[bws_linkedin display=”follow”]

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. 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?

#2. 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:

#3. 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?

#4. You're acting for a client whose place of belonging is Jersey. You have instructed a UK barrister on behalf of the client. The barrister has issued you with a VAT invoice addressed to your firm and has charged you £2,000 plus VAT.

When billed to the client, you would treat the cost as:

#8. What is the name given to the VAT that is due on your taxable supplies i.e your fees/expenses and vatable disbursements?

#10. 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?

AML 3

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. 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?

#2. 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:

#3. 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?

#4. You're acting for a client whose place of belonging is Jersey. You have instructed a UK barrister on behalf of the client. The barrister has issued you with a VAT invoice addressed to your firm and has charged you £2,000 plus VAT.When billed to the client, you would treat the cost as:

#8. What is the name given to the VAT that is due on your taxable supplies i.e your fees/expenses and vatable disbursements?

#10. 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?

AML 3

Who is this training for?

Purpose of this training?

Further Information

Frequently Asked Questions

Why Online?

Benefits?

#3. 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?

#4. You're acting for a client whose place of belonging is Jersey. You have instructed a UK barrister on behalf of the client. The barrister has issued you with a VAT invoice addressed to your firm and has charged you £2,000 plus VAT.

When billed to the client, you would treat the cost as:

#10. 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?