VAT within Law Firms – Online Workshop

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Nov 2024

Thu 14

10:00 am - 1:00 pm

Virtual Event
VAT Within Law Firms
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Thu 12

10:00 am - 1:00 pm

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VAT Within Law Firms
Get Tickets Free – £145.00

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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 client in a land dispute case. The client's place of belonging is the USA. The disputed land is the UK. You draft an invoice for £2,000.00.

What VAT rate do you apply to your supply?

Zero Rated

Reduced Rate (5%)

Standard Rate (20%)

Exempt

Outside the Scope of VAT

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

Output VAT

Input VAT

#3. 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?

A VAT invoice addressed to the payer

A VAT invoice addressed to the client but denoted ‘payable by’ the third party payer

A request for payment (non-VAT invoice) addressed to the payer stating 'This is not a VAT invoice'

#4. 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:

A Disbursement

A Recharge

#5. 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?

14 Days

30 Days

2 Months

3 Months

#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?

Zero Rated

Reduced Rate (5%)

Standard Rate (20%)

Exempt

Outside the Scope of VAT

#7. You’re acting for the executors in dealing with the administration of a deceased person’s estate. The deceased was a British National and resided in the UK. However the executors and those you are corresponding with are based in Canada. There is UK property involved and it forms a significant portion of the estate along with UK based bank accounts.

When issuing the bill to the executors, is supply subject to standard rated VAT?

Yes

#8. 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?

Yes

#9. 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:

Where you issue a VAT invoice and payment of that invoice is not due in full within 6 months of the date it was issued

Supplies of services where you issue a VAT invoice in advance of the service being provided

#10. To be valid for VAT purposes a credit note must be issued within:

7 days of the refund payment being made to the client

14 days of the refund payment being made to the client

30 days of the refund payment being made to the client

3 months of the refund payment being made to the client

Finish

VAT within Law Firms

Length: 3 Hours

Published September 24, 2022

Last Updated on May 1, 2023

Who is this training for?

This online workshop is for Solicitors, Lawyers, Accountants, Compliance Officers, COFA’s, Legal Accounts Professionals, Legal Cashiers and anyone that has any involvement in working in legal finance and compliance.

Purpose of this training?

VAT is a complex and ever changing tax. This workshop is designed to focus on the areas that cause the most confusion and the areas that HMRC specifically targets law firms during a VAT inspection.

The workshop will explore the practical application of the VAT regulations to help you to be compliant. It will explore the VAT Act 1994, Notice 700, case law and address issues that have emerged from cases like the ‘Brabners’ decision and the implications of those decisions to law firms. Conundrums and scenarios will be posed and discusses throughout the session.

Introduction

Scope of VAT within the UK

Time of Supply

Basic Tax Point
Actual Tax Point
Extensions

Sales/Fees

Client’s overseas (Place of ‘belonging’)
Land related services

Third Party Payers

Indemnity basisv
VAT invoices
Disbursements and Recharges
What is a disbursement (SRA and HMRC’s definition)

Disbursements – accounting options

Discretionary treatment of Counsel’s Fees
Overseas experts
Recharges – accounting options
VAT invoices
Search fees
Medical records and reports

Administrative Aspects of VAT

Valid VAT invoices
Valid credit notes
Recovery of input VAT
Supplier invoices 6 months older or greater
Subsistence, travel and staff entertainment expenses
Mixed expenses (business and personal usage)
Mobile phones
VAT Returns
Correcting errors
Bad debt relief

Further Information

Notice 700

VAT Act 1994

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 60 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.

Details on how to join the online session will be provided the day before the training goes live.

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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VAT within Law Firms – Online Workshop

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

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

Results

#1. You're acting for client in a land dispute case. The client's place of belonging is the USA. The disputed land is the UK. You draft an invoice for £2,000.00.

What VAT rate do you apply to your supply?

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

#3. 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?

#4. 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:

#5. 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?

#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?

#9. 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?