Time of supply ― actual tax points

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note provides information about actual tax points. Depending on the order of events in relation to when a supply is made, an invoice is issued and the supply is paid for, a supply may have a basic tax point and one or more actual tax points. An actual tax point can override a basic tax point. For information about basic tax points, see the Time of supply ― basic tax points guidance note.

For detailed commentary on the tax point rules, see De Voil Indirect Tax Service V3.131 to V3.143.

The actual tax point

The actual tax point may differ from the basic tax point (as determined under the rules described in the Time of supply ― basic tax points guidance note) where:

•
payment is received before the basic tax point
•
a VAT invoice is issued before the basic tax point
•
a VAT invoice is raised after the basic tax point but within 14 days
•
an accommodation tax point is in place

Deposits and prepayments

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