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

Ship Finance

Be prepared to operate effectively in the lucrative field of ship finance
  • “Very relevant. The trainer has strong experience in the industry. It’s not an easy subject but she made it very interesting.”
    Senior Associate, Standard Chartered Bank (Hong Kong)

    “Very knowledgeable trainer with good practicable examples.”
    Client Executive, Shipping, Skandinaviska Enskilda Banken AB


    The global industry of ship finance is greatly affected by today’s everchanging economic climate. The technical and complicated issues surrounding it, as well as the many taxation liabilities involved, can make ship finance a potentially expensive minefield. However, despite the risks involved, ship finance can be one of the most profitable ventures that a financial institution can undertake. With the correct finance structure and meticulously prepared loan and insurance documentation, many of these liabilities can be identified and accounted for.


    This course, 'Ship Finance' is organised in association with leading specialist ship finance lawyer Sue Wright, aims to provide an understanding of the documentation involved and how this can be used to minimise the inherent risks and liabilities in such activities. You will return to your office equipped with the knowledge and skills required to operate effectively in the potentially lucrative field of ship finance.


    Summary of course content

    • The ship finance market
    • Flags and ship registration
    • The basic security
    • Enforcement
    • The security documents
    • Insurance covenants
    • Trading the ship
    • The loan – who is the borrower?
    • Due diligence, conditions precedent and closing
    • Newbuildings
    • Security – other issues
    • The loan agreement
    • Other financing structures


    Methodology

    As with all courses, this programme uses case studies and practical exercises to ensure that you leave the course, ready to apply your new knowledge.

  • Day 1


    The ship finance market

    • What makes ship finance different?
    • International nature of the business
    • Some hedging options
    • Transaction types


    Flags & ship registration, security, second hand and newbuilding

    • National, offshore and open registers
    • Bareboat registration and the lender's perspective
    • Basic security for second hand purchases
    • Document structure
    • Security for newbuilding finance


    Glossary

    Loan Agreement Preliminary Issues


    We look at the structure of the documentation and how the different provisions interrelate. We will also look at issues related to who should be the borrower and at some key definitions in the documents.

    Administrative Provisions Including Due Diligence and Closings ***

    The basic security

    • Mortgage
    • Collateral assignments
    • Share security


    Enforcement

    • Pre-enforcement options
    • The lenders’ principal remedies


    The security documents

    • We will look at the common provisions of basic security documents


    Insurance covenants


    In this section we will look at the insurance covenants included in the security package and the reasons behind them. Issuescovered will include:

    • The standard marine risks
    • Captive insurance companies and reinsurance
    • The role of the letter of undertaking
    • Fleet policies
    • Mortgagee’s interest insurance
    • Brokers and clubs
    • The Norwegian insurance market

    Day 2


    Trading the ship

    • Different types of charter and other employment
    • Pool agreements
    • Ship managers
    • Impact on bank’s security
    • Treatment in loan and security documents


    The loan – who is the borrower?

    • Structural subordination
    • Cross security
    • Cross default
    • Hazards of guarantees and third party security


    Due diligence, conditions precedent & closing

    • Where should due diligence be conducted?
    • What should the legal opinion say?
    • What should the conditions precedent be?
    • Payment letters and simultaneous closing in different locations


    Workshop:

    Participants will examine specimen documents produced for a closing and consider their acceptability.


    Newbuildings

    • Security and other issues

    Day 3


    Security – other issues

    • Floating charges
    • Liens
    • Perfecting assignments
    • Registration
    • Loan transfers
    • Other assets - cash, shares, collateral ships
    • When can the security be set aside?


    The loan agreement

    • Overview
    • Mechanical and boilerplate provisions
    • Representations and covenants
    • Events of default


    Other financing structures

    This section will discuss the other common financing structures, including:

    • Export credit
    • Government guarantee schemes
    • Leasing

  • 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
This course can be run as an In-house or Tailored Learning programme

Instructor

  • Sue Wright

    Biography

    Sue Wright is a solicitor with over 18 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 assistants at Norton Rose for 2 years. Sue has been highly recommended as one of the leading experts in her field by the Legal 500 and by Chambers.She was the Head of Professional Development at Herbert Smith and is now running an independent training consultancy, specialising in international banking.

Venue

London

All of our 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@euromoney.com and one of our partners will help you get the best rate possible.