How should you deal with VAT on purchase invoices that are say dated July, but are received in August after the VAT return for July has been submitted?
Can they go on next month's return or do you have to make a voluntary disclosure?
The issue with a voluntary disclosure is that you are basically admitting an error, when in reality you have submitted your VAT return by the specified date, and it is the supplier who has caused the issue.
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Adjustment
Adjust on a VAT Return, up to the £10,000 limit.
If you use a Voluntary Disclosure, you will explain the circumstances in a covering letter. It IS an error, although clearly not your fault. An underclaim of VAT will not trigger a penalty.
Don't submit your VAT return so early in future
How should you deal with VAT on purchase invoices that are say dated July, but are received in August after the VAT return for July has been submitted?
You have until 7 September to file your VAT return online for the quarter to 31 July. If you had left your July VAT return until next week, you could have included the July invoices received in August.
What is the tax point (VAT) of traders who sell their goods on credit and receive their payment after 90days.