I had an issue in 2008 in that the agency I was using was handling the change from 17,5% differently from what my accountants suggested I do, so I was underpaid but was later paid the rest that I was owed after throwing my toys around.
To ensure my understanding is correct, for the changeover back to 17.5%, imagine you invoice on the 5th January for work carried out in December that includes 4 weekly timesheets (so the work done is spread across the month). I`ve heard this advice so far.
1. If invoice sent in December such as on the 31st you invoice at 15% VAT. THis does not apply to me as I`ll be invoicing in Jan.
2. If invoice sent in January you can still invoice for the work done in Dec at 15%.
3. If inoice sent in January you invoice work done in December up until the 18th at 15% and work done after that in Dec at 17.5%. This is what SJD are saying
WHy can`t it ever be simple! WHich one is it? I`m going to ask accountants again but if you`re sure either way that info would be useful
To ensure my understanding is correct, for the changeover back to 17.5%, imagine you invoice on the 5th January for work carried out in December that includes 4 weekly timesheets (so the work done is spread across the month). I`ve heard this advice so far.
1. If invoice sent in December such as on the 31st you invoice at 15% VAT. THis does not apply to me as I`ll be invoicing in Jan.
2. If invoice sent in January you can still invoice for the work done in Dec at 15%.
3. If inoice sent in January you invoice work done in December up until the 18th at 15% and work done after that in Dec at 17.5%. This is what SJD are saying
WHy can`t it ever be simple! WHich one is it? I`m going to ask accountants again but if you`re sure either way that info would be useful
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