Reclaiming Your VAT
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: email@example.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.
Structured Trade & Commodity Finance
A course bringing together trade finance product concepts, application to supply chains and financing structures typically used to facilitate commodity flows. The course is pegged at an intermediate level. Attendees are expected to be equipped with prior knowledge about mechanisms relating to Open Account, Letters of Credit, Bank Guarantees and Documentary Collections. For those less familiar with these topics, pre-course reading material will be provided. Focus of the programme shall be on financing arrangements as described in ‘Course objective’ below.
Course objective: To provide a comprehensive view of the interplay between trade finance instruments and supply chains as they apply to the commodities business. The objective is to cover Supply Chain Finance and Commodities Trade Finance. We begin with Pre-Finance on Day 1, proceeding to Payables-centric solutions on Day 2, followed by Warehouse/Inventory Finance on Day 3 and Receivables-centric solutions on the final day of training. In order to provide comprehensive coverage, the course will also cover related topics such as Risks in Commodity Trade contracts, INCOTERMS & Transport Documents, Marine Cargo Insurance and Commodity Price Hedging. Attendees will receive training on developing a risk-sensitive approach to commodities trade financing.
*FTS Eligible - Financial Training Scheme for Singaporean citizens and PRs only (more information)
Day 1: Emerging marketsRisks in international trade as they apply to emerging markets
- Political risk
- Performance and operational risks
- Credit and bank risks
- Price risk
- Illegality of contracts
- Document of title
Financing trade in challenging markets
- Commodity trading - markets and players
- Evolution of the trader’s business model
- Structured trade finance and the value chain
- Risk analysis of a commodity finance transaction
- Implications of Basel Capital Accord
- Rationale for the ‘structured’ approach to trade finance
- Characteristics of good collateral
Day 2: Contracts, structures and documentationKey documentation considerations
- Transport documents
- Documents representing goods
- Title, negotiability and endorsements
- Documents of title
- Charter-party contracts
- Obligations of shipper / charterer and vessel owner
- Loading and discharge of cargo
Risk considerations for pre–finance
- Application of Green Clause Credits
- Risks relating to grower / producer finance
- Valuing producer risk
- Ownership of the commodity / asset
- Licenses, export quotas, foreign currency controls
Risk considerations for post-finance
- Application of Red Clause Credits
- Limited recourse
- Absence of obligation to reimburse upon failure to deliver
- Difference between pre-financing and pre-payment
Day 3: Structured financeWarehousing considerations
- What is an asset-backed structure?
- The business case for warehousing
- Problems with pledges over inventory stocks, physical dispossession
- Legal infrastructure required to support warehouse receipt finance
- Is a WH receipt a title document or only evidence of receipt?
Financing issues with warehousing
- Warehouse receipts finance
- WRF structures
- Raising finance against warehouse receipts-backed securities
- Collateral Management Agreement (CMA)
- Liability of collateral managers
- Negotiating CMA documents
- CMA components
- Review of a CM Agreement
- Mishaps in collateral management arrangements
- Tolling finance
- Performance and country risks
- Causes leading to non-delivery by processor
- Security interests of financier
- Insurance solutions
Day 4: Alternative financingTypes of other financing structures
- Other financing structures
- Clearing currencies and escrow account
- Receivables-backed finance
- Principles of marine insurance
- ICC A/B/C, contingency cover
- Security over insurances (assignment vs. loss payee)
- Why do banks need political risk insurance cover?
- Contract frustration
- Confiscation of assets
- Credit insurance
- Covering risk of default in payment by buyer
- Legal traps
- Breach of warranty
- Failure to act as if you were uninsured
- Price risk management in commodity trade
- Price discovery exchange
- Traded vs. OTC
- Link between cash and futures markets
- Understanding contracts to hedge
- Benefits / Advantages for the customer and the bank
Course summary and close
Our Tailored Learning Offering
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 and dramatically increase your ROI.
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