What is HMRC compliant Invoice?

What is HMRC compliant Invoice?

According to the UK government, the invoices that are HMRC compliant are treated as the valid invoice. The invoice that does not fulfill the criteria of HMRC cannot be used as the legal VAT proof in the UK. HMRC carries out compliance checks to make sure the person is paying the right amount of tax at the right time, he is getting the right allowances and tax reliefs, to discourage tax evasion and to make sure the tax system is operating fairly.

What is the criteria for HMRC compliant Invoice? A full VAT invoices need to include-

  1. Your business name and address
  2. Your VAT registration number
  3. Unique identification number
  4. Date of invoice
  5. Date of ‘time of supply’: Sometimes known as the ‘tax point’ (you only need to include this if it’s different from the date of the invoice)
  6. Your customer’s name and address
  7. Accurate description of the goods or services you’ve supplied
  8. Price per item, excluding VAT
  9. Quantity of each item
  10. Rate of any discount you’re applying and to what item
  11. Total amount excluding VAT
  12. Rate of VAT applied: Be very clear about 0% charges on zero-rated or exempt goods and services
  13. Total amount of VAT owed

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