VAT invoice checklist
VAT regulations require that all registered businesses issue invoices which contain various pieces of information and details.
Valid VAT invoices
If you are registered for VAT, valid invoices are important for two main reasons:
- you can be fined if you don’t issue these to your customers
- you cannot reclaim VAT on your purchases without one.
The VAT regulations set out the minimum requirement for information to be included on invoices. There are exceptions and modifications to these rules, such as the right of retailers to issue simplified documents, but most businesses must comply fully with the rules. Our checklist will help you ensure the invoices you issue and receive come up to scratch.
Related Topics
-
HMRC loses employment status case involving football referees
HMRC has lost another employment status case, this time involving football referees engaged by Professional Game Match Officials Ltd (PGMOL). The tribunal rejected HMRC’s argument that the referees should be treated as employees for tax purposes. Why does the decision matter?
-
Investing: loans vs shares
You have the opportunity to invest in a promising start-up company. You can either purchase shares or lend it the money. What are the potential tax consequences you need to factor in when making your decision?
-
Where can you get help with MTD quarterly updates?
As Making Tax Digital for Income Tax (MTD IT) filing obligations begin for some taxpayers, questions are continuing to arise around quarterly updates and how problems should be resolved. If issues occur, where should you go for help?