bigbobs cl
Active Member
I`ve already posted this but may be of interest to some!! This is what it says on the letter from the VAT.
"If you have received payment or issued an invoice before Dec 1 for goods that will be provided (or services) after Dec 1 you have a choice. You can choose to account for VAT at the new rate of 15% on the amounts already received or invoiced. You don`t need to tell HMRC if you do this. In these circumstances, any payments received or invoices issued after Dec 1 will always be subject to the new rate of 15% But you do need to issue a credit note to the customer if you have already issued a VAT invoice showing the old rate of VAT"
So, if anyone has made a payment for something they are taking delivery of after Dec 1 (kitchen, new sofa, TV, Holiday) get back in there and get your credit note off them!!
Bob
"If you have received payment or issued an invoice before Dec 1 for goods that will be provided (or services) after Dec 1 you have a choice. You can choose to account for VAT at the new rate of 15% on the amounts already received or invoiced. You don`t need to tell HMRC if you do this. In these circumstances, any payments received or invoices issued after Dec 1 will always be subject to the new rate of 15% But you do need to issue a credit note to the customer if you have already issued a VAT invoice showing the old rate of VAT"
So, if anyone has made a payment for something they are taking delivery of after Dec 1 (kitchen, new sofa, TV, Holiday) get back in there and get your credit note off them!!
Bob