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Where Taxpayers and Advisers Meet

which tax year should an invoice be credited to?

Joined:Wed Aug 06, 2008 3:44 pm

Postby adhnan » Thu Feb 14, 2008 8:19 am


I have had a meeting with a tax inspector. I am a self employed builder. I have always given my customer an invoice when the work has completed even if they have made an interim paymnet whilst the work was being done.

A tax inspector has advised me this is incorrect and therefore the tax invoice issued in may 06, when the work was completed, should be logged in the 2005 tax year as interim payments were made in that year.

Is that correct and if not please quote me some legislation regards
Joined:Wed Aug 06, 2008 3:13 pm

Postby » Thu Feb 14, 2008 8:25 am

Strictly speaking the Inspector is more correct. It is all about putting a value on the work done (which may actually be greater than the interim payments!). It is an accounting rule.

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