Ive just taken on a client who subcontracts to a large D.I.Y store. He isnt Vat registered but should be as he is over the threshold so need to advise asap
My question is though, why aren't the self billing invoices showing any Vat from the DIY company?
Hi Georgie
One they are VAT registered you might need to complete a self billing agreement or perhaps even supply them with a copy of the VAT certificate, rather than just the VAT number (you get this online these days). Some are really very picky - the BBC had my clients VAT number and a completed VAT self billing form but still did not pay the VAT, just because they had not seen the VAT cert. Went on for months as my client didnt tell me they kept writing for the said cert! Nightmare. So just one to watch out for - worth a quick call to the DIY head office Accounts peeps. Also they review the position annually so will get a new self billing agreement each year, otherwise they again ignore the VAT.
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Joanne
Winner of Bookkeeper of the Year 2015, 2016 & 2017
Thoughts are my own/not to be regarded as official advice,which should be sought from a suitably qualified Accountant.
You should check out answers with reference to the legal position
