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

Download course brochure

Loan Documentation

Get to grips with all aspects of loan transactions and legal complications of incorrect documentation
  • "Excellent training which has improved my knowledge of the documentation, given the context of clauses and taught me how to think ‘like a lawyer’." - Past Attendee, Scotiabank

    "It’s amazing how you make it possible to learn so much within just a few days." - Past Attendee, National Savings & Credit Bank Zambia


    This three-day intensive course will cover all aspects of a loan transaction, concentrating particularly on the agreement itself and on the legal implications of a properly drafted and incorrectly drafted document. The course will provide a clause-by-clause analysis of loan documents, including standing 'boilerplate' provisions and a workshop on common banking expressions.
    You will be taken step-by-step through the process of documenting a loan, from the early stages of pre-contractual issues, letters of commitment and written offers, through to administrative provisions, representations, covenants, defaults, transfer provisions, guarantees and the eventuality of insolvency.
    By attending this course, you will fully understand the legal implications of a properly drafted and incorrectly drafted document.

    You will:

    • Be guided through the essential elements of various loan transactions
    • Learn how to negotiate representations, covenants and events of default from both a lender’s and borrower’s perspective
    • Gain a thorough understanding of the real value of security
    • Recognise pre-contractual issues and the legal nature of a letter of commitment
    • Improve your knowledge of interbank markets and basic administrative provisions
    • Become familiar with the standard ‘boilerplate’ provisions
    • Understand the concept of due diligence
    • Be able to deal with the transfer of loan obligations
    • Master common banking expressions


    All participants on our Loan Documentation training courses will receive a complimentary copy of “The Handbook of International Loan Documentation”, written by our expert faculty, Sue Wright. ISBN 978-1-137-46758-4


    "It enabled me to better understand the LMA and its clauses. I would recommend it." - Past Attendee, Danske Bank


    Who should attend

    • In-house lawyers in banks and financial institutions
    • Bankers concerned with the negotiation of loans
    • Bank executive involved in the documentation of loans
    • Lawyers in private practice who advise clients on loan agreements
    • Corporate counsel
    • Credit control officers
    • Credit administration officers

  • Day 1

    Introduction
    • The most common structures of loan transactions
    • Single banks and syndicated loans
    • Term loans and revolving credit facilities
    • Single currency and multi-currency facilities
    • Loan and guarantee facilities
    • Secured and unsecured facilities

     Pre-Contractual Issues

    • What issues should it address?
    • How much detail should it contain?
    • Is it intended to create a binding legal commitment?

     

    Libor Funding and Broken Funding Costs

    This session will involve consideration of how the Eurocurrency interbank markets work and the consequences in the documentation in terms of:

    • Interest rates and interest periods
    • Broken funding costs (and profits)
    • Default interest


    Withholding Tax

    Here we will look at withholding tax, double taxation treaties, and the consequences for the loan documentation.


    Overview and Administrative Provisions

    This session will involve an overview of the loan agreement and how it is structured to protect the lender, and an examination of the "mechanical" provisions of a typical loan agreement, such as the payments clause and the procedures to be followed on drawdown.

    • Drawdown procedures
    • Repayment and prepayment


    Representations

    Delegates will consider the purpose of the representations. Typical representations will be considered, including common comments from either side.

    Homework Exercise: As homework, participants will consider whether certain activities are prohibited by the loan documentation; and if so; which provisions are relevant.


    Day 2

    Repeated Representations

    We will review the homework, the impact of repeating representations, and the interrelations between different parts of the document, both in a term loan and in a revolving credit.


    Covenants and Events of Default


    Typical covenants and events of default will be discussed, including:

    • Purpose
    • Financial covenants
    • Cross default
    • Material adverse change
    • 'Default'

    Glossary of Terms


    'Boilerplate' Provisions and Loan Transfers


    Typical covenants and events of default will be discussed, including:

    • Set-off clause
    • Indemnities
    • Agency clause
    • Pro-rata sharing clause
    • Loan transfers
    • Novations
    • Assignments
    • Sub participations
    • Derivatives
    Homework Exercise: Calculate the likely recoveries of different classes of creditors in a winding up.


    Day 3

    Review of Homework Exercise

    Security and Quasi Security

    Different types of security will be considered, including:
    • Liens
    • Pledges
    • Charges (fixed and floating)
    • Mortgages
    • Title as an alternative
    • We will also consider the different insolvency regimes in the UK and the circumstances in which security may be set aside (or enforcement restricted) under English law.

    Guarantees

    The important provisions of a typical guarantee will be examined as will:
    • Commercial benefit and transactions at an undervalue
    • Common provisions of a guarantee

    Due Diligence

    • What issues are relevant?
    • Where to conduct due diligence
    • Legal opinions

     

  • 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

  • Sue Wright

    Biography

    Sue Wright is an English solicitor with over 20 years experience in international banking transactions, including syndicated loans, subordinated debt, structured finance and tax driven transactions. She was a partner in the banking department at Norton Rose for 8 years and was responsible for training for 2 years. She was head of professional development at Herbert Smith and is now running an independent legal consultancy specialising in training in international banking transactions and structured finance. Sue has been highly recommended as one of the leading experts in her field by Legal 500 and by Chambers. She is the author of “International Loan Documentation” and is a highly sought after trainer.

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."