My Daughter is getting married next year but has struck a deal to pay now for a discount.
Should she pay today's VAT rate (17.5%) or the rate when the goods & services are delivered i.e. next August @ 20% ?
Thanks
VAT rate for future services?
Aug 25, 2010
1 Replies
The basic tax point is the time of supply, but where payment is received earlier, the actual tax point becomes the date of receipt of payment, overriding the basic tax point.
Therefore she should pay at today's VAT rate.
Join the Discussion
Have something to add? Share your thoughts — no account required.
Didn't find your answer?
Ask the community — no account required