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: 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

  • Date
    21-24 Oct 2018
  • Duration
    4 days
  • Price
    £3000
Download course brochure

Treasury Management (UIC)

Learn to manage the treasury function & market risks with this course.
  • This course is run in partnership with the Union of Investment Companies (UIC) Kuwait

    To book your place, please contact learning@euromoney.com


    Overview

    This course is designed for professionals in the Treasury department of a bank or a corporate along with Accountants, Risk Managers, Operations Staff and other financial professionals. It will give these participants the best practice tools and approaches for Treasury management. The program will use lectures, real life case studies, computer simulations and workshops to give attendees the latest and most practical tools and techniques which they can apply in their organization to increase the effectiveness, efficiency and profitability.

    By the end of the program, participants will be able to
    • Identify the Activities of the Treasury Department
    • Understand how the Treasury function funds the institution through money market and fixed income instruments
    • Use the yield curve to price interest rate products in both the short and long term
    • Structure and use the latest derivative products in interest rate, foreign exchange, commodity and credit derivatives
    • Structure and use the latest Islamic Finance and Islamic Derivative Product for Sharia compliant transactions
    • Acquire a thorough understanding of the Global Financial System and its regulations
    • Identify the best practice in following the latest Basel 3 and CRD IV regulations
    • Identify the best practices in managing Liquidity and Market Risk in Treasury
  • Day 1

    Introduction


    Understanding the Activities of Wholesale Banking, ALM and Treasury

    • The activities of wholesale banking
    • Assets and liabilities of a bank
    • Funding, Liquidity and Market Risk in a bank
    • Treasury role in managing funding, liquidity and market risks of the bank
    • The activities of the Treasury Department in Asset Liability Management
    • Managing risk: BOD business strategy and Risk Appetite Policy
    • Asset Liability Committee activities and Treasury


    The Yield Curve - Understanding the bank’s funding cost and return on assets

    • Interest rate risk and the yield curve
    • The benchmark rate: The credit risk free benchmark yield curve
      - Liquid government bonds: Treasuries, JCB, Gilts, Bunds
      - Inflation expectation
      - Liquidity premium
    • Credit Spread and the pricing of debt
      - Credit Spread on yield curves
      Government bonds
      Libor and Euribor banks: Ratings and credit spread over time
      Credit spreads for loans
    • Using to price funding cost and asset returns of current assets and liabilities
    • Understanding the zero coupon and forward rate and their use in market risk management
    • Bootstrapping and Calculating the zero coupon rate
    • Calculating the forward rate
    • Exercise on the yield curve


    Day 2


    Funding the Bank Long Term – The Fixed Income Market

    • Introduction to the Bond Markets and long term funding
    • Different Bond Products:
      - US Bond, 144A and Traditional Private Placement
      - Regulation S and Eurobonds
      - Global Bonds
      - Local Market Bonds
      - Bond structures
      - Securitisation structures
    • Convention, Liquidity and Pricing
    • Duration and Bond Pricing/Trading
      - What is duration?
      - Modified Duration and its impact on bond price
      - Calculation of Duration and Price movement
      - Convexity and Bond Pricing/Trading
      - Bond Issuance Process


    Interest Rate Derivatives and Managing Market Risk

    • Introduction to market risk and derivative products
    • Forward Rate Agreement
      - Product Structure, Pricing, Settlement Calculation
      - Exercise: FRA calculations
      - Uses of FRA in managing interest rate risk
    • OTC and exchange traded products
      - Market and pricing conventions
      - Size issues, Settlement dates, Pricing calculations
      - Dealing with the exchange: initial margin, margin call etc..
    • Exchange Traded Products
      - Interest Rate Futures:
      Product, Quotation and Pricing, Margin, Cash Settlement
      Money Market Interest Change on Futures Pricing
      - Bond Futures:
      Product, Structure, Pricing, Cash or Delivery Settlement,
      Duration/Convexity and cheapest to deliver
      Interest Rate change and futures pricing change
    • Uses of Interest rate and Bond Futures in Treasury


    Day 3

    Interest Rate Derivatives and Managing Market Risk (continue)


    Interest Rate Swaps

    • Introduction to IRS
    • IRS structure, terminology, cash flow, convention and pricing (outright or T+)
    • Pricing of IRS and Bloomberg IRSB screen
    • Uses of IRS in funding, bond structuring, bond hedging
    • ALM: IRS and managing the bank’s IRRBB market risk
    • Mark to market of an IRS
    • Duration and price sensitivity of IRS
    • IRS structures: Forward start, amortizing, asset swaps


    Interest rate options: Caps, Floors and Swaptions

    • Introduction to caps and floors: market conventions, pricing convention
    • Options pricing issues: Delta, Gamma, Theta, Vega, Rho
    • Uses of caps and floors in Treasury
    • Introductions to Swaptions: Payer/Receiver, pricing convention
    • Pricing and uses of swaptions
    • Using Interest Rate Options to manage the bank’s market risk


    Foreign Exchange

    • Introduction to the Foreign Exchange Market
    • Market conventions and quoting conventions
    • Using the Bloomberg FX screens and quotation of spot rates
    • Calculation and quotations of forward FX rates
    • Using Bloomberg FX forward screens
    • Non-deliverable forwards (NDF) and their use
    • Application of spot and forward products
    • Structuring and Using FX swaps
    • Foreign Exchange Options
      - Puts and Calls
      - Conventions and pricing of calls and puts
      - Option pricing models: Delta, Vega, Gamma, Theta, Rho
      - Participating Forwards structuring
    • Exotic Options: Average rate, path dependent, knock out/in, no upfront fee, lookback
    • Uses of FX options


    Day 4

    Commodity Derivatives
    • Introduction to the commodity market
    • The Commodity Price curves: Cotango and backwardisation
    • Seasonality, Delivery and Pricing
    • OTC and Exchange traded commodity derivative products
      - Commodity Futures
      - Commodity Swaps
      - Options on commodities
    • Uses of commodity derivatives to hedge market risk


    Credit Derivatives

    • Understanding credit risk
    • Constructing the credit yield curve
    • Structures:
      - Credit default swap:
      Underlying: Reference Name/portfolio, first to defaults
      Set payout or put structure
      Cash flows of a CDS
    • Total Return
      Cash flows of a TRS
      Payments of a TRS
    • Uses of Credit Derivatives in hedging credit risk of the bank
  • 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