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TOMS - The Complete Guide

6-hour course  |  6 CPD hours

£ 329 +VAT per person

This course can be presented in-house at your premises. You can find out more about our in-house training here.

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Home > Online training > TOMS - The Complete Guide

TOMS - The Complete Guide

6-hour course

Course overview

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...

  • The difference between in-house supplies and other margin scheme supplies
  • Supplies to businesses
  • The different calculations
  • Special situations
  • Agent vs Principal and its impact on TOMS
  • The impact of Brexit and the UK's relationship with the EU
  • Proposed EU TOMS reform
  • MTD 

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.

Who should attend?

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...

  • Training companies that arrange an event and include hotel accommodation and an evening meal
  • A football club that organises travel for fans to overseas games
  • Events companies that arrange an event such as a ‘track day’ and are then asked to provide things such as food and accommodation

What will you learn?

This course is a complete guide and explains everything you need to know about TOMS and related topics, including:

  • The impact of Brexit
  • Registering for VAT and TOMS
  • What is TOMS and how does it work?
  • Accounting for TOMS under MTD
  • What supplies are covered by TOMS?
  • How to ensure that your TOMS position is optimal
  • Agent vs Principal – why is it so significant?
  • What about VAT recovery?
  • Place of supply issues
  • Supplies to businesses
  • In-house supplies
  • TOMS - the calculations
  • Using the provisional percentage to account for VAT

Extra benefits

  • A course pack containing the information presented on the day
  • A certificate of attendance
  • Complimentary refreshments and lunch provided

Course presenters

  • Laura Chipp

    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.