VAT on transactions between associated businesses: Back to basics part 2

This is the second of 3 posts discussing VAT on transactions between assocated businesses. In this post, I’ll be taling about terminology and how otherwise everyday words or phrases can have quite different meanings for VAT.

Remember the basic principle – you can only issue a VAT invoice if you have “sold” goods or services in return for payment.

Source: vatexchange.co.uk

---

---