Tax & Accounting News

VAT invoices: changes from 1 October 2007

24/09/2007

From 1 October 2007, VAT invoices must conform to the following requirements:

• numbering must be sequential, so that invoices can be uniquely identiified;

• where goods are sold under a second-hand margin scheme, this must be specified, or the relevant UK or EU legislation quoted;

• where goods are supplied to other EU member states, the invoice must specify whether the supply is exempt, zero-rated or subject to the reverse charge, or quote the relevant UK or EU legislation; and

• where business supplies are made under the Tour Operators Margin Scheme, this must be specified, or the relevant UK or EU legislation quoted.

Please contact us if you need any assistance with regard to invoicing requirements.

 

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