Reclaiming VAT: Checking the validity of your supplier invoices.
5th April 2018
VAT registered businesses will be aware that they can only reclaim VAT on business purchases if they have a valid VAT invoice.
For supplies over £250, this invoice should disclose:
- Supplier: sales invoice unique sequential invoice number, name, address and VAT number.
- Date and tax point, if different
- Your name and address
- Description of goods/services
- Per item: Price excluding VAT, rate of any discount, rate of VAT and quantity.
- Total excluding VAT
- VAT
- Total including VAT
For any suppliers that you are suspicious of as not being legitimately UK VAT registered, there is a website to check on whether their VAT number is valid: http://vat-search.co.uk/
Disclaimer - All information in this post was correct at time of writing.
