Transitional rules concern transactions spanning a change in the law, including the introduction of VAT in 2018. They should not be presented as the default treatment for a new transaction. Identify the dates and the legislation applicable to the period being reviewed.
Practical review checklist
- Keep the original contract, invoice, payment and delivery dates.
- Check contract variations and the law effective at that time.
- Obtain period-specific advice before correcting a historical return.
Check the rules for your transaction
Use the current official FTA guidance and legislation and VAT public clarifications. This introductory guide does not cover every exception. Confirm the requirements for your business and the period concerned.
Need help reviewing your records?
Explore BWMC VAT consultancy or contact the team with the transaction type, reporting period and issue you need to resolve.