VAT rate for future services?


P

PeterW

My Daughter is getting married next year but has struck a deal to pay now
for a discount.

Should she pay today's VAT rate (17.5%) or the rate when the goods &
services are delivered i.e. next August @ 20% ?

Thanks
 
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R

Ronald Raygun

PeterW said:
My Daughter is getting married next year but has struck a deal to pay now
for a discount.

Should she pay today's VAT rate (17.5%) or the rate when the goods &
services are delivered i.e. next August @ 20% ?
The basic tax point is the time of supply, but where payment is received
earlier, the actual tax point becomes the date of receipt of payment,
overriding the basic tax point.

Therefore she should pay at today's VAT rate.
 

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