Hi, I've recently taken on a few new clients who are VAT registered Ltd companies. All of them have expenses from outside of the UK, mostly Europe but not all. My main source of knowledge on VAT comes from the AAT text book which seems limited. Can anyone recommend a good text book I can get to make me more knowledgeable on VAT in general?
Thanks, I have already. But I still don't feel like an expert. And a lot of the pages relating to VAT which link from the main documents don't work. I'd like to know more than I'm going to need so want something a bit more detailed.
for enhancement of specific detail as Mark suggests the HMRC website is the primary source of infortmation but for gaining a good quality understanding I would suggest the latest version of Taxation by Melville which covers all aspects of taxation including VAT.
There are questions in and at the end of every chapter and even if you have previously passed tax exams you will be surprised at how much more you pick up by reading through this text and doing all of the examples (plus more on the linked website).
The book is aimed at mid level knowledge. It's more than an introduction to the subject but you are never going to use it as a CTA resource.
I would actually say that it is the perfect book for bookkeepers thrust into a accountancy type role of needing to know more about the nuts and bolts of the UK tax system.
You can't look inside that version yet but you can the FA11 version here. (the books are updated each year for the changes in the finance act but keep the same format and questions (where still relevant))
For more advanced knowledge of taxation (incl. VAT) try the Kaplan study text for ACCA paper P6. Because tax changes each year it also revises all of the information from ACCA paper F6 which will have been passed under a different finance act.
The real issue with tax books is that you have to buy them every year.
I'm actually now going for alternating the Melville book one year and the Kaplan study text the next not just due to cost (which compared to Tolleys is incredibly cheap, but then, these books are not Tolleys and we are not CTA's) but rather that one simply doesn't have the time to read two books of this size.
The Melville book is much easier reading (and much smaller) and I would actually advise that one as your first venture down this path with possibly the FA13 version of the Kaplan text next year.
Hope that helps,
kind regards,
Shaun.
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Shaun
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