Invoicing in Euros

[LisaContractorUmbrella]

Fraid so Pondlife

[Pondlife]

Thanks Lisa.

So basically, I take a hit on the VAT elements of any currency fluctuations then?

Thought this might be the case

[LisaContractorUmbrella]

If you issue VAT invoices and credit notes in euro for supplies of goods or services within the UK, the invoice or credit note must also show the sterling equivalent of the total net value of goods and services at each rate of VAT and the amount of VAT, if any, at each rate. We will not insist on sterling conversion for each description on the invoice on a line by line basis. If you issue invoices and credit notes in euro for supplies of goods and services to persons in other Member States and you charge VAT (when, for example, you don’t have a valid VAT registration number for your customer) the above requirements also apply.

The sterling VAT amount on tax invoices is the value to be used for both suppliers’ output tax and customers’ input tax.

Above from HMR&C - HTH

[Ardesco]

Is it a legal requirement to put the GBP amount on the invoice, as well EUR, as a VAT declaration to HMCE?

Agency is saying it is but I've never come across it before.

If so, is this the value I have to use in the VAT calculations rather than the amount in GBP that hits my bus account?

TIA

I wouldn't, the exchange rate may change and leave you substantially out of pocket. I would only invoice in one currency, if you offer two the client could pick the lowest value currency to pay you (Not likely I know, but i'm paranoid).

[Pondlife]

Is it a legal requirement to put the GBP amount on the invoice, as well EUR, as a VAT declaration to HMCE?

Agency is saying it is but I've never come across it before.

If so, is this the value I have to use in the VAT calculations rather than the amount in GBP that hits my bus account?

TIA