Commentary

V7.432 Continuous supplies of services

Part V7 Tax planning
Part V7 Tax planning | Commentary

V7.432 Continuous supplies of services

Part V7 Tax planning | Commentary

V7.432 Continuous supplies of services

The basic VAT principle to be aware of is that a tax point is only created in such cases when either an invoice is raised by a supplier or payment is received from a customer. This situation tends to cover, for example, most supplies of services provided by an accountant to a client where a standard letter of engagement is in place. This is because the accountant is deemed to be supplying services throughout the year as part of an ongoing relationship with the client. It is irrelevant that there might be a number of

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