Commentary

V16.928 Accounting for VAT on standard-rated prescription products

Part V16 Forms and other HMRC material

V16.928 Accounting for VAT on standard-rated prescription products

V16.928 Accounting for VAT on standard-rated prescription products

Information Sheet 11/07, August 2007

1 Introduction

1.1 Who should read this Information Sheet?

This Information Sheet will be of interest to suppliers of prescription goods liable to VAT at the standard rate, who are not retail pharmacists. This will include, for example, companies supplying items such as stoma and continence care products which they deliver from depots nationwide to patient's homes.

1.2 What is it about?

We have been made aware of difficulties that exist in accounting for VAT at the correct time on the supply of prescription goods liable to the standard rate of VAT.

Some businesses are delaying accounting for VAT until they receive payment

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