The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
The time of supply or the tax point is the date that a transaction takes place from a VAT perspective. Businesses are required to either account for VAT or recover VAT on the VAT return covering the period in which the supply takes place. There are different tax points for supplies of goods and services and this note provides an overview of the main principles.
Businesses need to ensure that they get the tax point date correct for the following reasons (this list is not exhaustive):
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