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VAT on Cash Accounting

Mr Clonfadda · 2008-11-24 16:49:19

If i bill somebody for 100 euro + Vat @21% on 30/11/08 on a cash receipts basis and they pay in December, Am i responsible to pay vat of 21 euro or 21.50 euro as vat rate changes to 21.5% on 1/12/08 Any opinions would be great thanks.

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24-11-2008 5:49pm

#1
Mr Clonfadda

Registered Users Posts: 372 ✭✭

Join Date: October 2008

Posts: 367
If i bill somebody for 100 euro + Vat @21% on 30/11/08 on a cash receipts basis and they pay in December, Am i responsible to pay vat of 21 euro or 21.50 euro as vat rate changes to 21.5% on 1/12/08

Any opinions would be great thanks.

Tagged:

vat

cash

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#2 24-11-2008 9:32pm
EI-EAY

Closed Accounts Posts: 39 ✭

Join Date: August 2008

Posts: 34

You pay the revenue 21% (€21) as you raised the invoice with 21% vat so your customer will claim 21% back from the revenue.

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