VAT: Prompt Payment Discounts
A consultation about VAT invoicing and accounting arrangements when prompt payment discounts are taken up in relation to supplies made on or after 1 April 2015.
Detail
Changes to UK legislation relating to VAT and prompt payment discounts will take effect in relation to supplies made on or after 1 April 2015. HMRC would like to receive views or suggestions on how the businesses affected should make consequent accounting adjustments. These will be used to inform any guidance HMRC may issue.
Documents