Gladys Posted February 1, 2006 Share Posted February 1, 2006 What's the problem? We send estimates out on a daily basis. Should they be at 5% or 17.5%? That's a problem for me at the moment I have just paid the first instalment on some building works with 5% VAT and would expect that the next instalments will carry the same rate as I contracted for the works during January. My understanding is that it depends on invoice dates or payment dates. I haven't heard contract dates mentioned. For example, advice that we were given and passed onto our customers said that to definately qualify for the 5% VAT rate - i) A VAT invoice is issued to the customer for the full amount of the work before 31st January 2006 ii) The work is completed in full before 31st January 2006 and the invoice is issued before 14th February 2006 iii) Payment is received in full before 31st January 2006 It's 1st Feb today, what happens now? Have you 'phoned the VAT office? Link to comment Share on other sites More sharing options...
The Old Git Posted February 1, 2006 Share Posted February 1, 2006 Have you 'phoned the VAT office? They can't tell me any more than what they have on their website, updated 30/01, as that is all they know at the moment. Link to comment Share on other sites More sharing options...
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