i am confused about new vat rule - sub-contractor invoicing principal contractor & accountant not around until next week (and need to do up accounts at weekend)
before sept 1st eg. i invoice principal contractor 1,000 + vat of 130.50. I can therefore offset any vat on purchases/expenses against the 130.50
after sept 1st eg. i invoice principal contractor 1,000 - no vat & with note that they pay the vat
query can i still offset any vat on purchases/expenses against the 130.50 which would have been due on this invoice.
before sept 1st eg. i invoice principal contractor 1,000 + vat of 130.50. I can therefore offset any vat on purchases/expenses against the 130.50
after sept 1st eg. i invoice principal contractor 1,000 - no vat & with note that they pay the vat
query can i still offset any vat on purchases/expenses against the 130.50 which would have been due on this invoice.