The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
This guidance note provides an overview of the requirements for businesses that will be issuing or receiving electronic invoices. Please see the VAT invoice requirements guidance note for more information on invoicing generally.
Electronic invoicing involves the transmission and storage of invoices by electronic means. The invoice is not printed and issued as a paper document. Electronic equipment includes (this list is not exhaustive):
SI 1995/2518, reg 13A(2); SI 1995/2518, reg A13
De Voil Indirect Tax Service, V7.427 (subscription sensitive)
Issuing electronic invoices has certain benefits including:
Electronic invoicing is not mandatory and businesses can continue to issue and receive paper invoices.
Businesses can also issue and receive invoices in both electronic and paper format. However, a business can only receive paper and electronic invoices for the same supplies whilst they are operating a trial of their electronic invoicing system. Once the trial has been completed the business must select one invoice method for supplies made and / or received.
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