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TOMS - The Complete Guide
The Tour Operators Margin Scheme (TOMS) rules are often seen as complex and can be easily misunderstood, potentially leading to incorrect VAT accounting and missed opportunities. If TOMS applies to all or part of your business, you must have a clear understanding of the scheme to ensure that you account for VAT correctly and minimise output VAT payable under TOMS.
This course explains TOMS in detail and will help you determine which supplies are included and how to carry out the calculation. The practical examples show TOMS in action, highlighting common issues. The course will also take you through opportunities and key considerations within TOMS, which may improve your business's VAT position. There will be practical advice and examples throughout, showing TOMS in action and highlighting common issues and how to resolve them.
More complicated and topical areas of TOMS will also be covered including...
Ultimately, attending this course will significantly increase your confidence when dealing with TOMS, help you avoid the common pitfalls and crucially help you improve your business’s VAT position.
“Enjoyed the course and now feel much more confident in dealing with TOMS.”
“I feel I have a much better understanding of TOMS after this course.”
“This was a very useful course, as TOMS is a minefield!”
Head of Finance & Administration
“Fantastic and informative course bringing a difficult subject matter some clarity. Thank you.”
“A topic which can be complex and challenging to understand was presented in a clear, concise and professional manner, which gave me a much better grasp of the subject matter.”
“Great presenter, it's all much clearer now. Good examples and course material.”
This course is crucial for anyone that works with VAT in organisations affected by TOMS. This primarily includes those in the travel and tourism sectors, but what is less known, is that TOMS may also apply to many other businesses that buy in and recharge travel costs. For example...
This course is a complete guide and explains everything you need to know about TOMS and related topics, including:
Laura is a VAT consultant with 13 years’ experience. She started her VAT career at Deloitte and has since worked at accountancy firms Saffery Champness, BDO and Elman Wall. In 2019, Laura set up VATNAV, a VAT consultancy business specialising in providing VAT and TOMS advice.
Throughout her career, Laura has advised businesses on VAT in a wide range of industries, including financial services, land and property, retail and leisure, with particular expertise in the travel and events sectors. She regularly presents at VAT conferences and training sessions and contributes articles to trade press. One of her main focuses is to ensure that these often complex VAT principles are set out clearly and comprehensively for businesses.