Contracting and VAT issues

T

tui0hcg

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I have recently started as an IT contractor and as my first two weeks were in Feb I set up as a sole trader, from March onwards I am set up to be VAT registered. What way should I invoice for my time worked in Feb. I also am a little confused on what I can claim back on VAT eg expenses for travel, phone bills etc and the likes. I am not very upto date on tax issues so the basics are a little confusing, I have tried to make sense of Revenue FAQs and things but am now more than a little confused. I have never been self employed so any details would be helpful.
:confused:
 
Do you have an accountant to advise you on the tax matters relating to your contracting business?
 
I was in the same situation a couple of years ago. Invoice for the work in Feb but without VAT. Then when you get your VAT number in March issue another invoice just for the VAT due on the work done in Feb. Be sure to make this very clear to the company you're billing and talk to their accounts department as well, just so that they are aware what is going on.

Do you have an accountant? If not, you really should.
 
I was similar when I started contracting. I put on my first Invoice "Vat Number - To be confirmed" and charged full price plus VAT - and on second invoice I submitted the VAT number - My client had no issues with this at all - and it kept everything very simple.
 
Yes I have just got an accountant so I presume he will look after all the finer details such as what I can claim back against VAT. I think I have also sorted out the Feb VAT issue, my agency say I can invoice for Feb VAT amount in March when I have my VAT number fully on line. :cool:
 
Can someone clear something up dor me with regard to invoicing for vat

Invoice 1 sent out, with no vat number ( vat number was pending)
Invoice total included vat.
Amount paid was less vat

Do I send invoice 2 out for the vat when the vat number comes through, or do I re-issue invoice 1?
I did ask my accountant this a while ago, but I'm not clear on what I should do

Sorry if this is a stupid question, but I don't want to be caught for double vat returns at year end.

Thanks in advance
 
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