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Are your VAT invoice numbers unique and sequential?

Published on Oct 30, 2008 |

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Some contractors might be unaware of new rules which came into play in October 2007 which mean that VAT registered businesses must use unique and sequential numbers for their invoices.

This interesting requirement was discovered by the Contract Eye team's accountant - and we thought it worth sharing with our visitors!

Prior to the introduction of the new rules (bought into play to comply with EU regulations), all VAT invoices simply needed to have an identifying number, but there were no more stringent requirements than this.

At the time, HMRC said that they were unlikely to impose penalties for non-compliance with the new rules for the first year, but that "grace period" has now expired!

You can read more details about this numbering requirement on the HMRC site here.