Do you have questions you would like answered by your peers in the proformative community?

Tim Randall Accountant

UK Vat on sales invoices - future dated

Asked on July 20, 2016

Hi We issue sales invoices for annual software support and issue them about 45 days in advance of the renewal date. Can we issue them with an invoice date of the renewal date (ie post-dated) rather than issue date? So for example, sales invoice produced and issued to customer today 18th July but with an invoice date of 1st Sept

Answers

Jake Feldman Managing Director • July 24, 2016

Hi Tim

Seems like you can do this presuming you don't recognize the revenue until the invoice date. See UK VAT webpage below that addresses invoice in advance of supply (or service)

https://www.gov.uk/vat-record-keeping/time-of-supply-or-tax-point

Companies sometimes encounter difficulties with dating differently than issuance date due to limitations with their invoicing system.

Jake

Want to join the conversation? Submit an answer or ask a question by emailing us at [email protected]

Submit an answer