New legislation covering the completion of vat invoices is now in place. Steve James outlines what your firm must do to comply.

At a glance

  • Legislation came into force on 1 January that changes how vat invoices must be completed
  • There are no exemptions from the legislation – all businesses must comply
  • There are four specific changes to UK invoicing formats
  • The need to show type of supply, individual vat rates and sterling equivalent of the total invoice amount is removed
  • The unit price of goods and services supplied must be shown

Source

Electrical and Mechanical Contractor

Postscript

Steve James is a senior vat consultant at WJB Chiltern.