V6.200 Records

The record-keeping requirements for a contractor are the same as those for any other VAT-registered business (for which see V5.201–V5.211). However, there are also accounting arrangements, in addition to the requirements for certificates set out in preceding paragraphs, which are particular to the construction industry and these contain specific requirements. These issues are dealt with in the following paragraphs.

Input tax recovery

The right to deduct VAT as input tax is conditional on being able to attribute it to a taxable supply rendered in the course or furtherance of a business. However, input tax recovery is blocked on specific

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial