VAT - Actual Tax Point

Question 1

If a tax invoice has been issued, or a payment has been received, before the basic tax point, what is the outcome?

Answer 1

An actual tax point (date of supply)
- on the earlier date of either the tax invoice issue or the payment received

Question 2

If a tax invoice was not issued, or a payment was not received, before the basic tax point, what is the outcome?

Answer 2

We ask ourselves the question - Has a tax invoice been issued within 14 days of the basic tax point (date of supply)?

Question 3

If a tax invoice has not been issued within 14 days of the basic tax point, what is the outcome?

Answer 3

The actual tax point is equal to the basic tax point

Question 4

If a tax invoice has been issued within 14 days of the basic tax point, what is the outcome?

Answer 4

The actual tax point is the invoice date