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Accounting for VAT on moneys received

  1. Overview
  2. Who may opt for the moneys received basis?
  3. How do you apply for the moneys received basis?
  4. Changing to and from the moneys received basis
  5. VAT rates on the moneys received basis
  6. What sums are included in the moneys received basis?
  7. Moneys received basis eligibility and cancellation

VAT rates on the moneys received basis

You are liable for Value-Added Tax (VAT) on goods or services at the rate applicable at the time they are supplied.

Where the rates of VAT change, apply the VAT rate at the time that the goods or services were supplied. Do not apply the VAT rate at the time that the payment was received (if this is later).

Next: What sums are included in the moneys received basis?

Published: 13 November 2023 Print this page

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