Parity self billing VAT rate

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Archangel replied

4 December 2008, 08:04
Originally posted by BolshieBastard View Post

Can someone clarify the VAT rate applicable here?

Self billing period 3 - 30 November, Parity raised an invoice dated 3 December. They've applied VAT at 15% for the period 3 - 30 November. That's not right, is it?

What's the betting the twats have charge the client 17.5% for the same period?

Sounds correct to me. The tax point is when the invoice was raised (unless the work being invoiced for was completed > 14 days before invoice date). So was 15%.

Even if they charged the client 17.5% they would not profit as they will be VAT neutral. i.e. They pay the VATman VAT charged - Vat reclaimed.
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Beefy198 replied

3 December 2008, 23:41
Originally posted by BolshieBastard View Post

Can someone clarify the VAT rate applicable here?

Self billing period 3 - 30 November, Parity raised an invoice dated 3 December. They've applied VAT at 15% for the period 3 - 30 November. That's not right, is it?

What's the betting the twats have charge the client 17.5% for the same period?

I believe it possibly is, as you are invoicing for the whole month at once (if you were invoicing each week separately work done before the 18th would be at the old rate). The tax point is created when the invoice is made up, so if they create the invoice after the 3rd December (and I presume when you inform them of work done doesn't matter) then that's at 15%

Anyway, since the VAT would be passed on to HMRC would it make a difference to you? I doubt they would be on the flat rate scheme so it's not like they'd benefit through that.
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EqualOpportunities replied

3 December 2008, 23:26
Originally posted by BolshieBastard View Post

Can someone clarify the VAT rate applicable here?

Self billing period 3 - 30 November, Parity raised an invoice dated 3 December. They've applied VAT at 15% for the period 3 - 30 November. That's not right, is it?

What's the betting the twats have charge the client 17.5% for the same period?

crooks
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BolshieBastard started a topic Parity self billing VAT rate

3 December 2008, 20:20
Parity self billing VAT rate

Can someone clarify the VAT rate applicable here?

Self billing period 3 - 30 November, Parity raised an invoice dated 3 December. They've applied VAT at 15% for the period 3 - 30 November. That's not right, is it?

What's the betting the twats have charge the client 17.5% for the same period?
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