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#1. To be valid for VAT purposes a credit note must be issued within:
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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. 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?
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#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:
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#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:
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#6. 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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#7. Your firm is acting for a client and has instructed a translator to translate a document which needs to be produced in Court.
When including the cost of the translator in your bill of costs, you treat it as a:
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#8. You're acting for a client in a contentious matter. You have been issuing statute bills each month. The case has now concluded and you're preparing the full and final bill. You wish to revisit the amount on some of your previously issued interim bills by increasing the amount charged.
Is this permissible?
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#9. You pay the window cleaner for cleaning the windows of your offices. They are not registered for VAT.
What VAT rate should you select when posting the invoice to the accounting system?
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#10. You’re acting for VAT registered business client in a litigation matter. Your services were provided to and used by your client. A third party has agreed to pay your client’s legal costs and you have issued the payer with a note of your costs requesting the full amount. The payer has stated that they’re liable for the net amount only and that your client should discharge the VAT amount.
Is the payer correct?
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AML 4
Speaker: Jo Morris
Length: 2 Hours
Published July 29, 2023 Last Updated on July 29, 2023
Who is this training for?
This online workshop is suitable for most people working in a law firm including MLRO/MLCO, partners, fee earners, legal assistants and business support.
Purpose of this training?
Over the last three years we have seen lots of changes in the AML work – an update of the MLR2017 in January 2020, new National Risk Assessment in December 2020, updates of the LSAG guidance in January 2021 together with the SRA Sectoral Risk Assessment on the same date and the list goes on.
We’ve just started to get everything in place and settled when, what’s this? Another updated version of the LSAG guidance released on 28 March 2023 alongside an advisory notice on Funds from China from LSAG too.
So what is new in these two documents?
This online training with give you with an invaluable insight into the recent updates and changes in the guidance together with a refresher of the key points.
This live and interactive session will cover the following:
- National Risk Assessment (NRA) – the risks for the legal sector
- SRA Sectoral Risk Assessment – what to consider when updating your practice wide risk assessment
- SRA Annual AML report – facts, figures and findings
- SRA thematic reviews – an update on the reviewsKey changes in the LSAG guidance including:
- AML governance
- Policies, controls and procedures
- AML risk assessments – practice and client/matter
- NEW – proliferation financing – things to consider in your practice wide risk assessment
- NEW – advisory notice of Funds from China
- Due diligence – client (CDD) and enhanced (EDD)
- Source of Wealth (SoW) and Source of Funds (SoF)
- Training
- Record keeping
- MLRO reporting
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
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.