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OUTCOMES OF TOPIC After studying the topic related to VAT adjustments with regard to bad debts, you should be able to: ✓ Understand the VAT consequences that will arise on the write-off of bad debt; ✓ Understand the VAT co nsequences that will arise on the subsequent recovery of the bad debt write-off; ✓ Identify at what rate should the abovementioned VAT consequences be accounted for; ✓ Calculate the VAT adjustment related to the bad debt written off or recovered; ✓ Understand the VAT consequences that will arise on the provision for doubtful debt; Declare bad debt adjustments on the VAT201 return.

OUTCOMES OF TOPIC After studying the topic related to VAT adjustments with regard to change in use you should be able to: ✓ Identify when an increase in taxable supplies will result in an Input tax adjustment; ✓ Calculate an Input tax adjustment; ✓ Identify when a decrease in taxable supplies will result in an Output tax adjustment; ✓ Calculate an Output tax adjustment; ✓ Understand the impact of VAT adjustments on leasehold improvement costs incurred on the lessee and lessor; Disclose VAT adjustments due to change in use on the VAT201 return.