Last month we referred you to our helpful guide to VAT: “Common Pitfalls”.
On the same theme, following a European Court case in May 2013, HMRC can refuse a claim for VAT on a purchase invoice that is incomplete.
Worryingly, this applies even if you obtain the missing information at a later date.
They must contain the following, to stay compliant with HMRC requirements :
• Invoice number (unique and consecutive) & date
• Seller’s name or trading name, address & VAT number
• Your name or trading name & address
• Time of supply/tax point if different from invoice date
• Description sufficient to identify what was supplied
• VAT rate, amount charged and totals (net, VAT and gross)
