The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:
This guidance note provides details of the information that must be shown on a valid tax invoice. Businesses who supply goods and services that are liable to the standard or reduced rate of VAT are required to issue a tax invoice to another VAT registered person.
If the business is issuing and / or receiving electronic invoices, then it should also read the Electronic invoicing guidance note for more information.
A tax invoice shows certain VAT details regarding the supply of goods and services. It can be either in paper or electronic form. A VAT registered customer is required to have possession of a valid tax invoice from the supplier in order to recover any VAT charged by the supplier.
A tax invoice forms part of the required accounting documentation that must be retained by a business and will be reviewed by HMRC as part of an audit.
If the business is using procurement purchasing cards, then please see the Procurement cards guidance note for more information.
A tax invoice must show the following information:
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