Monthly Archives: October 2014

Tax Points (Time Of Supply)

By   October 30, 2014


The tax point for a transaction is the date the transaction takes place for VAT purposes.

You need to know this because it’s included on VAT invoices and it tells you in which VAT period the transaction should be accounted for.  The tax point may be summarised (in most circumstances) as the earliest of:

  • The date an invoice is issued
  • The date payment is received
  • The date title to goods is passed, or services are completed.




Some brief examples:

Situation Tax point
No invoice needed Date of supply
VAT invoice issued Date of invoice
VAT invoice issued 15 days or more after the date of supply Date the supply took place
Payment or invoice issued in advance of supply Date of payment or invoice (whichever is earlier)
Payment in advance of supply and no VAT invoice yet issued Date payment received

The date of supply is:

  • for goods – the date they’re sent, collected or made available (eg installed in the customer’s house)
  • for services – the date the work is finished

There are certain exceptions, so care should be taken when establishing a tax point.

MOSShop opens!

By   October 7, 2014

Just a reminder that the Mini One Stop Shop (MOSS) will open on 20 October 2014.        078045-black-white-pearl-icon-business-globe

The MOSS is for suppliers of digital services to customers across the EC.

Official notification here

A full explanation of MOSS and digital supplies here

We advise that any provider of; telecoms, broadcasting and electronic services seeks specialist professional advice before the changes come into effect.  We have many clients that are involved in cross-border provision of digital services so are ideally placed to assist with whatever query you may have on this issue.