Staying on top of VAT obligations can be challenging for GP practices, this practical and informative webinar is designed to help you understand when VAT becomes relevant to your practice and how to manage it correctly.

The session will cover:

When and why GP practices need to register for VAT. Including how the VAT threshold applies to medical practices.

VAT liability of services supplied by practices. A clear overview of which services are VAT exempt, standard rated, or outside the scope of VAT with practical examples.

Partial exemption explained. What partial exemption means in practice, how it applies to GP practices, and the potential impact on VAT recovery.

Basic bookkeeping for VAT purposes. Key records you need to maintain, how to correctly post VAT transactions, and best practices for staying compliant.

Common VAT errors made by medical practices. Frequent pitfalls we see in practice and how to avoid costly mistakes.

Monitoring income for VAT registration purposes. How to track taxable turnover accurately and identify when registration thresholds are approaching.

HMRC penalties and compliance risks. An overview of penalties for late registration, incorrect returns and how to reduce risk.

The session will be useful for practice managers, finance assistants and finance partners.

Free to attend. Click Learn More below to book your place.