VATupdate

Self-billing: What is it? Why use it? And which industries is it most suited to?

What is self-billing?

Instead of a supplier issuing a VAT notice in the standard way, self-billing is an arrangement that allows a customer to prepare the supplier’s invoice and forward it to the supplier complete with the VAT payment.

Any business can adopt self-billing, providing the supplier agrees to the request and both parties are VAT-registered.

Source Innovate Tax

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