VAT

[david_e]

I have just agreed a sale on my boat. It was new in 2002, bought in the UK with a decent discount through the Beneteau network and I am the first and only owner.

Looking at the invoice I note the dealer just put the total price and not filled in the separate lines for the base price, VAT element, and total.

Should this suffice for proof of VAT being paid for the new owner?

 

[Channel Ribs]

It would be worth contacting the dealer and trying for a full invoice, they should be happy to oblige...

 

[Malish]

If I were the buyer I would want that VAT line filled in.

 

[david_e]

sorted - thanks

 

[GeorgeP]

Section 16.3.1 of VAT notice 700 covers this. In summary, a VAT invoice must have:

- an identifying number
- the seller's name, address and VAT number
- the date of supply
- the date of issue (if different to the date of supply)
- the customer's name and address
- the type of supply (in this case, sale)
- a description of the goods supplied

For each description, you need:

- quantity
- charge, excluding VAT
- VAT rate
- total charge (i.e. quantity x charge)
- rate of cash discounts offered

- each rate of VAT charged, the amount of VAT charged at each rate (in sterling)
- the total amount of VAT charged, shown in sterling

There are various other rules that apply, but I think you should check your invoice has this on it.

PM me if you want more help.