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Michael Paul Accountants

The VAT invoice

12th April 2011

Paul from M P Accountants Northamptonshire  reviews the information which should be contained on a tax invoice.

The tax invoice is the cornerstone of the whole VAT system but it is (or perhaps it’s not) surprising how many invoices don’t contain the correct information.

A tax invoice must contain the following:

  • a unique identifying number
  • date of issue of the document
  • time of supply – if different from the invoice date
  • name / address / registration number of supplier
  • name / address of person to whom goods /services supplied
  • description sufficient to identify the goods / service
  • for each type of supply the quantity of goods/extent of services, the rate of tax and the amount payable
  • for each description the unit price of “countable” goods or services
  • total charge made (excluding VAT)
  • rate of any cash discount
  • the total amount of tax chargeable expressed in sterling.

Retailers can issue less detailed invoices for sales under £250 including VAT and is not required to issue an invoice unless the customer requests it. A retailer is someone who makes 50% of his sales to the general public.

A third option where the customer agrees is to issue a modified invoice which shows the VAT inclusive value of each standard or reduced rate item with further VAT information at the foot of the invoice.

At M P Accountants Kettering, Corby, Northampton and Market Harborough are conveniently located near to our premises in Lamport although we have clients from all over the UK.  We are a firm of Chartered Certified Accountants ensuring you receive a professional and competent service at all times.

If you need any advice regarding VAT or any other accounting or taxation matters please don’t hesitate to contact us.

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