Invoices for european agencies

[kiboomiz]

I'm in the process of creating my invoices for my first contract. My contract is based in Brussels (with Modis as the agency) and the contract states the rate in Euros, so I take it I have to raise the invoice in Euros too?

My VAT registration hasn't completed yet, so do I just leave VAT off the invoice and just charge the contracted rate?

Thanks!

[david@purpleaccounts.com]

If your contract is agreed in Euros, this is the base currency of the contract and so yes, you need to invoice in Euros. If you want to have more control over exchange rate risk exposure, you should open a Euro bank account to have the monies paid into, and if you have that luxury you can convert to sterling when the rates are good.
If you have Euros paid into a GBP account, you will get whatever the bank converts at on the day of receipt which more often than not isn't that good. If you accumulate funds in a Euro account, you can negotiate a 'deal rate' with the bank to convert to GBP at a better rate than you would have otherwise received.

[Sockpuppet]

On the invoice put "vat pending: invoice to follow"

Raise the invoice in Euros. You could raise it in GBP but then you'd probably get the interest rate 0.0001 off what the agy were using. Just raise it in Euros and see what it comes through in GBP.

[sathyaram_s]

If yourco is VAT registered and your agency/client in another EEA country is VAT registed, there is no need to charge VAT on your invoices. Google for "intra-community supply" for more information. You have to quote your customer's VAT no on the invoice.

I'm not sure how this works if you have VAT regn pending .. I guess you still do the same, but mention that your VAT regn is pending.