VAT - Invoices and Discounts

• A VAT-registered customer must have a valid VAT invoice from the supplier in order to claim back the VAT they have paid on the purchase for their business.
• THE FOLLOWING ARE NOT VAT INVOICES

  proforma invoices

  invoices for only zero rated or exempt supplies

  invoices that state 'this is not a vat invoice'

  statements of account

  delivery notes

  orders

  letters emails or other correspondence
• WHAT IS SHOWN ON A VAT INVOICE

  invoice number

  date

  tax point

  sellers name address and vat number

  customers name and address

  quantity

  description

  vat rate

  net and vat
• if a trade discount is offered this amount is deducted before the vat is calculated
• if a prompt payment discount is offered the vat is calculated on the amount, or consideration, irrespective of when payment is actually made