VAT and invoice/payment date

madmittens

Hi

Does the VAT rate depend on the invoice date or payment date please?

I've just received an invoice dated 31st December 2010, but the 20% VAT rate has been used?

TIA

dazza.mk

Generally it is invoice date, but there are exceptions:

http://www.hmrc.gov.uk/vat/managing/returns-accounts/tax-points.htm

madmittens

Thanks dazza.mk - your link answered my question (the VAT rate used on my invoice is wrong on all counts). Dunno if it's worth arguing the toss, but will probably have a go

chrismac1

If it was issued to me, I'd call and say "credit note and re-invoice this properly if you want your cash" because until that point your supplier has failed to issue you with a valid tax invoice.

RichCH

Yes, definitely by invoice date. I know it's already been answered, but 4th Jan and after should be 20%, before, 17.5%.