UK VAT invoice requirements
Date of issuance and storage of UK invoices
UK VAT invoices must be issued within 30 days of the taxable supply. If the transaction involves an intra-Community supply of goods, the invoice must be provided by the 15th day of the month following the taxable supply. In the case of an intra-Community supply of services, invoices should be supplied on the 15th day of the month following the end of the month during which the service was provided. For continuous services, a VAT invoice should be provided by the January following each year in which the services are provided.
Invoices must be stored for six years. The UK, like all EU member states, now permits the use of electronic invoices under certain conditions.
UK invoice requirements
Invoices must contain at least the following information:
- Date of issuance
- A unique, sequential number
- VAT number of the supplier
- Full address of the supplier and customer
- Full description of the goods or services provided
- Details of quantities of goods, if applicable
- A date of the supply (or tax point) if different from the invoice date
- The net, taxable value of the supply (expressed in GBP)
- Unit price of items supplied and details of any cash discounts excluding VAT
- The VAT rate applied, and the amount of VAT
- Details to support zero VAT – export, reverse charge or intra-community supply
- Reference to “reverse charge” if applicable
- Where supplies have been self-billed a reference to “self-billing”
- If applicable, reference to any margin scheme that has been applied e.g. tour operator margin scheme, margin scheme for works of art
- Details of mode of transport of goods
- The total, gross value of the supply
Latest British news
December 12, 2018
On 12 December, the European Commission published details of a new rule which would make large online marketplaces responsible for calculating, collecting and remitting VAT on certain B2C cross-border transactions below €150. Where goods are imported by an EU or non-EU merchant, and then sold via a marketplace in another EU country..
December 10, 2018
The UK’s HMRC has written to all VAT-registered businesses that trade with the EU to recommend immediate actions in the case of a no-deal Brexit on 29 March 2019. This is over 140,000 businesses.
November 26, 2018
The EU27 governments have now agreed the Brexit Withdrawal Agreement (WA) which sets out the terms of the UK’s exit from the EU on 29 March 2019....
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