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Where Taxpayers and Advisers Meet

VAT agent for buying and selling

kurekoe
Posts: 5
Joined: Fri Apr 08, 2016 1:29 pm

VAT agent for buying and selling

Postby kurekoe » Wed Oct 11, 2017 5:31 pm

A property managing agent (also a VAT agent for buying and selling), are they obliged to issue proper VAT invoices with detailed breakdown for inputs and outputs?
What if they provide only VAT summary reports, is this a valid document for HMRC purposes?

les35
Posts: 502
Joined: Wed Aug 06, 2008 3:09 pm

Re: VAT agent for buying and selling

Postby les35 » Thu Oct 12, 2017 4:39 pm

A VAT registered person is required to issue a proper VAT invoice for taxable supplies to other taxable persons. If the other parties are VAT registered, you must issue invoices.
Where the customers are not VAT registered, you must issue a VAT invoice on request.


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