Invoicing

Invoicing

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Hi

I am IT services provider and invoice my client every 4 weeks. I am paid a daily rate. As per HMRC

"The time of the supply

This is the 'tax point' and is based on the date goods are supplied, a service completed, or a payment received if payment occurs before the physical supply is made or the invoice is issued"

I provide services first and then invoice for them. Do i have to provide or charge the client for 20 days individually or can i continue to invoice once in 4 weeks? ofcourse when I invoice every 4 weeks, then the date of service supplied does not match HMRC instructions.

bit confused there.

Help

Replies (1)

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Teignmouth
By Paul Scholes
30th Apr 2014 14:43

You are OK on a 4 weekly basis

Clearly you have agreed to work for a period (4 weeks) before being paid and this would be regarded as a continuous service over that 4 weeks.  The service ends every 4 weeks and you have 14 days in which to issue an invoice and the tax point will then be the invoice date.

I hope, otherwise I owe clients several thousand invoices!

Thanks (1)