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HMRC internal manual

VAT Time of supply

Tax points for specific types of supply: construction: introduction

The terms of payment are an important factor in determining the tax point for supplies in the construction industry. Supplies made under a contract that provides for periodic payments (often referred to as stage payments or interim payments) are covered by the special rules contained in regulation 93 of the VAT Regulations 1995 (see VATTOS2370). Single payment contracts, on the other hand, are subject to the normal rules and this includes, in all cases, the creation of a basic tax point when the work has been completed.