Share this post on

Six Month VAT Adjustments – Are You Making Yours?

Taxpayers are normally required to make a VAT adjustment where they have reclaimed VAT charged on purchases where they have not paid the vendor within 6 months of deducting the VAT. This concept is known as the “Six months adjustment rule”.

Finance Act 2013 introduced this treatment. From 1 January 2014 Section 62A of the VATA 2010 obliges the taxpayer to adjust the deducted VAT when transactions remained unpaid after 6 months.

Source Deloitte


VAT news
VAT news