When you issue invoices the first thing that you must have in mind is the information that you have to include.
Here comes the question : What a VAT invoice must show?
A VAT invoice must show:
• an invoice number which is unique and follows on from the number of the previous invoice - if you spoil or cancel a serially numbered invoice, you must keep it to show to a VAT officer at your next VAT inspection
• the seller's name or trading name, and address
• the seller's VAT registration number• the invoice date
• the time of supply (also known as tax point) if this is different from the invoice date
• the customer's name or trading name, and address
• a description sufficient to identify the goods or services supplied to the customer
• the rate of any cash discount
• the total amount of VAT charged expressed in sterling
For each different type of item listed on the invoice, you must show:
• the unit price or rate, excluding VAT
• the quantity of goods or the extent of the services
• the rate of VAT that applies to what's being sold
• the total amount payable, excluding VAT
If you issue a VAT invoice that includes zero-rated or exempt goods or services, you must:
• show clearly that there is no VAT payable on those goods or services
• show the total of those values separately
This document contains guidance only and is not a substitute for tailored advice from an Accountax Mentors accountant. Contact us for advice pertaining to your specific business and situation.
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