Beta This part of GOV.UK is being rebuilt – find out what this means

HMRC internal manual

VAT Time of supply

From
HM Revenue & Customs
Updated
, see all updates

Legislation: UK secondary law (VAT Regulations 1995): Regulation 94 general

Law

94 Subject to regulation 90B above, where under this Part of these Regulations a supply is treated as taking place each time that a payment (however expressed) is received or an invoice is issued, the supply is to be treated as taking place only to the extent covered by the payment or invoice.

Commentary

Regulation 94 limits any of the tax points created under the regulations by the receipt of a payment or issue of a VAT invoice, to the amount actually received or invoiced for.