This course provides a practical introduction to accounting for Value Added Tax (VAT) on international transactions, helping learners understand the key VAT rules that apply when buying and selling goods and services across borders. It is an ideal starting point for finance professionals, accountants, and business owners who need to navigate the complexities of cross-border trade while maintaining compliance with VAT regulations.

Participants will explore the VAT treatment of transactions involving both European Union (EU) and non-EU countries, including imports, exports, intra-EU supplies, and acquisitions. The course explains when VAT should be charged, when exemptions or zero-rating may apply, and how to identify the correct place of supply for goods and services.

This course is made up of one hour video content (Overseas Trading Aspects – Video and Quiz) and additional reading materials equivalent of one hour of learning.

Prerequisites

• Understanding of basic UK VAT principles, including output and input VAT
• Awareness of the difference between goods and services for VAT purposes

Upon completion of this course, learners will be able to:

• Explain how VAT applies to the import and export of goods between the UK and other countries
• Describe the VAT treatment of cross-border services, including the place of supply rules
• Identify when the reverse charge mechanism applies to services received from overseas suppliers
• Apply the correct VAT treatment to goods and services traded with both EU and non-EU countries
• Recognise the documentation and reporting requirements for international VAT transactions