Newbie to site please be gentle!!..
My problem is that I have just registered a newco, and I will be over the threshold in the second month,
and I will be invoicing aprox 40k in the first 3 weeks, all customers are vat registered.
My question is:
If I say invoice a job worth £4000.00 do I put a note on the invoice stating that a vat only invoice will follow
at the end of the month when I receive my vat Number, or am I totally wrong as normal???
Thank you in advance
regards
VAT on invoices before receiving registration number
Sorry it’s taken me a couple of days to reply to your query, I’m having an odd week so far!
This is what HMRC tell you to do in your situation:
You may wish to increase your prices to include VAT but until you have a registration number you must not show VAT as a separate item on any invoice you issue. You can explain to any of your customers who are also VAT registered that you will be sending them VAT invoices later. Once you have your registration number you should send them the necessary invoices showing VAT within 30 days.
So if you were issuing invoices for £1,000 you’d actually issue the invoice for £1,175 but not show the additional amount of £175 as VAT.
Here’s the link to the VAT Notice “Should I be registered for VAT” http://tinyurl.com/yda9vx7. The above exert is from section 4.1 which explains how you start accounting for VAT when you are newly registered.
Anyway hope that helps and that the reply was nice and gentle for you!
Marie
Just contact the VAT expert
Just contact the VAT expert for the problems you encountered along way. We also experienced that way. As a freelancer I find it hard to find time on settling down problems on my E-VAT. It's definitely mind boggling. But I checked websites which offers help on VAT problems.