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Reclaim the VAT on your Euromoney Training Courses in the UK

Why am I being charged VAT?
The EU VAT Directive stipulates that all training and educational courses that are provided in the UK must include a VAT charge on payment.  

Can I reclaim my VAT back?
Overseas delegates who attend our courses in the UK are eligible to claim their VAT back once it has been paid.    

How can I claim the VAT back paid on a course?
There are two ways in which you can claim back VAT back from the UK.

Option 1 - Directly through HM Revenue and Customs

The most cost-efficient way is to claim back VAT directly from the UK Tax Authority (HMRC) by completing the following form. 
For European clients, please refer to form VAT 65
All other clients, please refer to form VAT 65A.

Option 2 - Through our Recommended VAT Reclaim Service – VAT IT
The specific rules for VAT reclaim will vary according to the laws of your country of residence. This can be complicated and time-consuming. 

Euromoney have an exclusive partnership with VAT IT, specialists in international VAT reclaim.  VAT IT will review, process and submit your VAT refund on your behalf. 

VAT IT will charge a percentage of the VAT refund if/when it is successful. 

If you want to find out more about this service, please email your details to: euromoney@vatit.com  

You may also be able to claim back your VAT against courses taking place outside of the UK, and we would recommend contacting VAT IT, our specialist partner, to discuss how to do this.

RECLAIMING YOUR VAT WITH VAT IT

Course details

Download course brochure

IFRS 9 Financial Instruments

Master IFRS 9 with this course covering the new rules and reporting standards required
  • IFRS 9 is the new accounting standard for financial instruments that will have an impact on International banks and financial institutions worldwide. Numerous changes are in place, designed to make annual reports more meaningful to investors as well as simplify how auditors implement the rules and introduce safeguards to ensure that a severe credit crises cannot emerge again

    IAS 39, which is to be replaced with IFRS 9 and other standards include accounting and reporting requirements that are bureaucratic and the source of many mistakes and misunderstandings by the accounting profession. They often inhibit the provision of consistent and meaningful information to investors on the true economic effects of firms’ hedging strategies.

    Our aim on the two day course is to outline recent developments in hedge accounting and to show how the rules can be implemented in practice. We use Excel spreadsheets as well as local examples to illustrate how the accounting policies are implemented across Europe, Asia and Africa.

    This 2 day course specifically focuses on the new rules and reporting standards contained in IFRS 9 which is designed for professionals who have experience of operating under IAS 39 and wish to gain in-depth understanding of what’s new in IFRS 9 and the implications for the design, management and reporting of hedging strategies.


    Learning Outcomes
    During the course the delegates will:
    1. Examine the role of impairment and hedge accounting and identify anomalies and restrictions contained in IAS 39
    2. Understand how IFRS 9 is developed and implemented in practice
    3. Identify practical implementation issues together with solutions
    4. See how the standard can be implemented in practice in a simplified and effective manner.



    Methodology
    This practical course will contain Excel spreadsheets, and hands on exercises. Group case studies selected from the South Africa region will also be included. 
  • Day 1


    Objectives of IFRS 9
    • Requirements for recognising financial assets and financial liabilities
    • Principles based v Rules based accounting
    • Reducing complexity in reporting financial instruments
    • Lessons from the Financial crisis
    IFRS 13 Fair Value Measurement
    • Impact of the revised definition of fair value
    • Level one two and three assets
    • Recurring and non recurring assets
    • Disclosure requirements
    • Observable and non-observable inputs
    Replacement of IAS 39
    • Classification and measurement of financial assets and financial liabilities
    • Impairment methodology
    • Hedge accounting
    • Impact of change on accounting Framework
    Impairment Methodology
    • Objective Evidence and elimination of threshold for impairment
    • Expected credit losses
    • One year v Life time expected losses
    • Practical application guidance
    Hedge Accounting
    • Aligning hedge accounting with risk management Accounting for open portfolios and macro hedging Fair value hedge of an interest rate portfolio
    • Accounting policy choice ­ applying existing hedge requirements of IAS 39 or new requirements of IFRS 9
    Recognition and Derecognition of financial assets
    • Risks and rewards of ownership
    • Beneficial interest
    • Control over an asset and accounting implications
    • Off balance sheet accounting
    Case Study Protium Special Purpose Vehicle

    Impact between IFRS 13 and IFRS 9
    • Level one assets
    • Level two assets
    • Level three assets
    • Operational risk and conflict of interest
    Application of IFRS 9
    • Subsidiaries and accounting treatment under IFRS 10,11 and 12
    • Lease accounting IAS 17
    • Derivatives embedded in leases
    • Pension accounting IAS 19

    Day 2


    Review of Accounting Standards
    • Hedge Accounting
    • Mark­to­market V Cost
    • Credit Value Adjustment
    • Hedging Rules
    Case Study First Rand Group Accounting Policies

    IFRS 9 – Classification of Financial Assets
    • Business Model and Cash Flow characteristics
    • Reclassification of assets
    • Applying the Fair Value Option to banks
    • Subsequent measurement
    Accounting for Derivatives and Embedded Derivatives
    • Role of embedded accounting rules
    • Changes under IFRS 9
    • Practical implementation issues for South African banks
    Case Study Accounting for Structured Products under IFRS 9

    Hedge Accounting – the new rules
    • Three types of hedge, cash flow, fair value and hedge of a net investment
    • Other Comprehensive Income
    • Problems with hedge accounting
    • Time value and Intrinsic Value of Options
    IFRS 9 Hedge Accounting – New Qualifying Criteria
    • Qualifying hedges under IFRS 9
    • Equity Investments and Comprehensive Income
    • Available for Sale, Held to Maturity changes
    IFRS 9 Hedge Accounting – Effectiveness Assessment
    • Quantitative and Qualitative controls
    • Testing for hedge effectiveness under the new rules
    • Documentation
    • Procedure for audit
    Case Study ­ Hedging and Documentation for Foreign Exchange Transaction

    Course summary and close
  • Do you have five or more people interested in attending this course? Do you want to tailor it to meet your company’s exact requirements? If you’d like to do either of these, we can bring this course to your company’s office. You could even save up to 50% on the cost of sending delegates to a public course.

    Our Tailored Learning Offering

    If you want to run this course at a location convenient to you or if you want a completely customised learning solution, we can help.

    We produce learning solutions that are completely unique to your business. We’ll guide you through the whole process, from the initial consultancy to evaluating the success of the full learning experience. Our learning specialists ensure you get the maximum return on your training investment.

  • We have a combined experience of over 60 years providing learning solutions to the world’s major organisations and are privileged to have contributed to their success. We view our clients as partners and focus on understanding the needs of each organisation we work with to tailor learning solutions to specific requirements.

    We are proud of our record of customer satisfaction. Here is why you should choose us to help you achieve your goals and accelerate your career:

    • Quality – our clients consistently rate our performance ‘excellent’ or ‘outstanding’. Our average overall score awarded to us by our clients is nine out of ten.
    • Track record – we have delivered training solutions for 95% of worlds’ top 100 banks and have trained over 250,000 professionals.
    • Knowledge – our 150 strong team of industry specialist trainers are world leading financial leaders and commentators, ensuring our knowledge base is second to none.
    • Reliability – if we promise it, we deliver it. We have delivered over 20,000 events both in person and online, using simultaneous translation to delegates from over 180 countries.
    • Recognition – we are accredited by the British Accreditation Council and the CPD Certification Service. In an independent review by Feefo we scored 96% on service and 95% on product
This course can be run as an In-house or Tailored Learning programme

Instructor

  • Cormac Butler

    Whenever I deliver training, I strive to provide a firm basis for understanding the strengths and shortcomings of the current standards on financial instruments and highlight these with relevant real-life examples.

    Biography

    The course director is currently an active equity and options trader and a former consultant with Lombard Risk Systems London and has also worked with Peat Marwick and PricewaterhouseCoopers. He has considerable international experience as a training consultant in derivative accounting, Corporate Finance and Derivative Mathematics, working with major banks including Banque BNP Paribas. He has conducted courses for Morgan Stanley, PriceWaterhouseCoopers (Holland), Investec (South Africa) and ABB Switzerland and Asian Development Bank. In addition, he has worked for IIR and Euromoney in Singapore, Hong Kong, Thailand, America and Saudi Arabia. The course director graduated from the University of Limerick, Ireland with a degree in Finance. He has recently published a book which is currently on the best sellers list (for Risk Management books) with Amazon.com, Gloriamundi.org and Financial World Bookshop (London).

Venue

London

"All courses are held at four or five star venues in Central London, Zone 1. We strive to provide you with a training environment of the highest quality, to ensure that the whole learning experience exceeds your expectations.

Your training venue will be confirmed by one of our course administrators approximately 3-4 weeks before the course start date.

As such we have detailed our most frequently used training destinations in London on this map. If you need help booking accommodation for your visit to our training courses, please contact accommodation@euromoneylearningsolutions.com and one of our partners will help you get the best rate possible."