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Where Taxpayers and Advisers Meet

VAT - OUTPUT TAX PRE-REGISTRATION

riya
Posts: 1
Joined: Mon May 07, 2018 12:47 am

VAT - OUTPUT TAX PRE-REGISTRATION

Postby riya » Mon May 07, 2018 1:10 am

Dear Experts,

I incorporated my limited company on 15th Jan.
VAT Registration certificate effective date is 10th Feb.
I started to provide consultancy service for a client from 15th Jan and the contract is for 6 months.
I invoiced the client with VAT for the period (15th Jan to 31st Jan) on 20th Feb(Invoice date) and got paid on the same date as invoice.
The first VAT Return period for me is 10th Feb to 30th Apr and due by 1st week of June.

Please help me understand the following questions in the above scenario.
1. Am i right to invoice the customer with VAT for the period(15th Jan to 31st Jan)?
2. As i have invoiced the client, I believe i need to include the output tax in my first VAT return. Is this correct?

I was struggling to understand the tax point for the above scenario. Can someone please provide some advice?

Regards
R

GlobalTaxAdviser
Posts: 633
Joined: Fri Dec 05, 2014 1:18 am

Re: VAT - OUTPUT TAX PRE-REGISTRATION

Postby GlobalTaxAdviser » Tue May 08, 2018 10:15 am

Hello Riya

Presumably you have registered for VAT voluntarily as you have not exceeded the threshold ? I say this since you are consultancy business that just started up. Are you under Flat rate Scheme - cash or accruals basis

Only invoice your client from 10th February or you could try to change the registration date by contacting HMRC

Kind Regards

GTA


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