With the UK now out of the EU VAT regime - what do you need to do keep your goods flowing, customers happy and import taxes minimised? Read Avalara’s free 2021 Brexit Survival guide for details on Brexit VAT and customs issues.
The UK VAT rules on the format and information to be provided on invoices are based on the UK VAT Act.
UK VAT invoices must be issued within 30 days of the taxable supply. If the transaction involves an intra-Community supply of goods, the invoice must be provided by the 15th day of the month following the taxable supply. In the case of an intra-Community supply of services, invoices should be supplied on the 15th day of the month following the end of the month during which the service was provided. For continuous services, a VAT invoice should be provided by the January following each year in which the services are provided.
Invoices must be stored for six years. The UK now permits the use of electronic invoices under certain conditions.
Invoices must contain at least the following information:
This guide covers the essential steps ecommerce sellers need to take now that the UK has left the EU Customs Union and VAT regime to keep their cross-border sales going, avoid extra tax costs and frustrated customers.
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