2019-20 tax for small business owners and contractors
Confused about VAT invoices?
As soon as you become VAT registered, you need to make sure that your VAT invoices meet the UK/ EU requirements. The elements which must appear on your invoices are different if your client is in the UK or in another country in the European Union.
As soon as you become VAT registered, you need to make sure that your VAT invoices meet the UK/ EU requirements. The elements which must appear on your invoices are different if your client is in the UK or in another country in the European Union.
For a UK supply, a VAT invoice must show the following elements:
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An identifying number, which must be unique and sequential
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A tax point date
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The name and address of the supplier
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The VAT number of the supplier (9 digits grouped 3, 4, 2)
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The name and address of the customer
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A description of the supply
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The total amount payable excluding VAT
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The total amount of VAT chargeable and the rate that applies
For a EU supply, there are a few extra requirements:
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The supplier should prefix GB to the VAT number
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The customer’s registration number if the customer is VAT registered
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The description of each supply should show the net amount in GBP
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If the supply is subject to the reverse charge procedure, a statement explaining that this is the case.)
Useful links
The exchange rate to be used can be found on the HM Revenue & Customs website.
A VAT number can be checked on the Europa website.
About the author
Ingrid Niang est expert-comptable britannique avec seize ans d’expérience variée en Angleterre. De nationalité française, elle a créé son cabinet FRAccountants en 2009 et travaille tout particulièrement avec des entrepreneurs, chefs d’entreprise et consultants français ou francophones ayant une activité commerciale au Royaume-Uni. Elle leur apporte un suivi et conseil sur mesure leur assurant de se conformer aux exigences comptables et fiscales britanniques.
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