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HMRC internal manual

VAT Traders’ Records Manual

HM Revenue & Customs
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Other Invoicing arrangements for particular businesses: Stockbrokers: Contract notes: can they be used as VAT invoices?

With computerised accounting, it has become the practice to allocate a unique code or reference number to each client in lieu of an address. We have agreed with the Stock Exchange Council that such codes or reference numbers will be accepted in lieu of addresses on contract notes used as VAT invoices subject to the following conditions:

  • clients are formally advised by the stockbroker of their code or reference number and asked to keep the advice for production to this department when required. (This will enable you to establish the authenticity of a contract note if you come across one during the course of a check of a client’s records); and
  • the record of codes or reference numbers must be available for similar inspection at the offices of stockbrokers.

The department reserves the right to insist on full addresses being shown if it is considered necessary in any particular case.