Should I be re-issuing invoices issue before I registered for VAT?

brophs

Hi,

I am self-employed and voluntarily registered for VAT last year. I do so on a cash received/invoice basis.

What I'm wondering is this: before I registered for VAT I issued lots of invoices which, obviously enough, didn't include VAT. Some of those remain(ed) unpaid after I'd registered for VAT, so should I know be sending out amended invoices to reflect the requirement to pay VAT now that I have registered or, because VAT didn't apply at the time I provided the service/issued the invoice, is it still not applicable?

Thanks in advance.

barneystinson

brophs wrote: »

Hi,

I am self-employed and voluntarily registered for VAT last year. I do so on a cash received/invoice basis.

What I'm wondering is this: before I registered for VAT I issued lots of invoices which, obviously enough, didn't include VAT. Some of those remain(ed) unpaid after I'd registered for VAT, so should I know be sending out amended invoices to reflect the requirement to pay VAT now that I have registered or, because VAT didn't apply at the time I provided the service/issued the invoice, is it still not applicable?

Thanks in advance.

Which is it, cash received basis or invoice basis?

Actually I don't think it matters (open to correction here, as I don't have time to read up). You're only liable for VAT on receipts for services supplied after you registered - any services supplied / invoices issued prior to registration are not liable to VAT. (Unless you had already exceeded the Registration threshold, which I presume isn't the case).

brophs

barneystinson wrote: »

Which is it, cash received basis or invoice basis?

Actually I don't think it matters (open to correction here, as I don't have time to read up). You're only liable for VAT on receipts for services supplied after you registered - any services supplied / invoices issued prior to registration are not liable to VAT. (Unless you had already exceeded the Registration threshold, which I presume isn't the case).

Feck, sorry Barney, that was supposed to say "on a cash received NOT invoice basis". I was half asleep when I wrote it.:)

Nope, haven't exceeded the threshold.

But I think you've answered my question. Perhaps someone else can confirm but what you've said makes sense.

Thanks.

farrentax

HI,

I can confirm that what Barneystinsen says is correct, you only charge VAT on receipts issued after you register for VAT.

howardmarks

Why did u volunteer to register for vat? Clients request or to claim input credits on business purchases?
Just to note that in the latter case you wont be entitled to claim an input credit on your vat returns for purchases made prior to registering for vat.
Also can confirm what the op has answered. Invoices issued prior to reg are not liable to vat and reissuing said invoices is not necessary. When you receive payment for these I think theres a space on your return which is for income not liable to vat.
Its been a while since i saw one THANK GOD