Time of supply – tax points (United Kingdom)
Key domestic legislation: Value Added Tax Act 1994, s 6
The basic tax point for goods is:
- Ìý
•ÌýÌýÌýÌý if the goods are to be removed, the time of removal;
- Ìý
•ÌýÌýÌýÌý if the goods are not to be removed, the time when they are made available to the person to whom they are being supplied.
The basic tax point for services is the time the services are performed (completed).
The basic tax point will be overridden with an actual tax point if:
- Ìý
•ÌýÌýÌýÌý an invoice is issued before the basic tax point;
- Ìý
•ÌýÌýÌýÌý part or full payment is received before the basic tax point; or
- Ìý
•ÌýÌýÌýÌý an invoice is issued
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Web page updated on 17 Mar 2025 16:07