records of daily takings such as till rolls.purchase invoices and copy sales invoices.documents or certificates supporting special VAT treatment such as relief on supplies to visiting forces or zero rating by certificate.documentation relating to dispatches and acquisitions of goods to or from the UK or EU member if you are registered in Northern Ireland or relating to dispatches and acquisitions made before 1 January 2020 if you are registered in Great Britain.credit or debit notes you issue or receive.annual accounts, including profit and loss accounts.Our view of business records is wide and will include: VAT law requires you to keep all your business records. a VAT invoice for supplies to other VAT-registered businesses, a ‘VAT invoice’ is just the term for an invoice which contains some information required by the VAT rules, most commercial invoices will already hold the right information.the VAT account, in many cases this will based on a routine business record of VAT you owe or can claim, if you are required to keep digital records then these will be your electronic account.There are 2 records that are specifically required for VAT. Records that form part of your ‘electronic account’ must be kept digitally in functional compatible software.Īpart from keeping business records and the special requirements, we ask that your records are complete, up to date, and allow you to calculate correctly the amount of VAT that you have to pay or can claim from us. You do not have to keep records in a set way and most bookkeeping and computer systems will meet this requirement. The basic rule is that you must create and keep normal business records. Record-keeping rules for all VAT-registered businesses 2.1 Records you must keep You can find further information on general compliance checks in factsheet CC/FS1a.

We’ll normally specify which records we want to see ahead of a visit and those records must be available. 1.4 Checking your recordsįrom time to time we’ll visit you, usually at your main place of business. Many records kept for VAT purposes will overlap with records for other taxes, but the detailed rules as well as the retention periods may differ. This notice explains the record-keeping rules for VAT. add information about digital record keeping that was previously published in Notice 700/22.It also tells you how best to keep these records.įurther information is also available in VAT guide (Notice 700). This notice gives guidance on the records you must keep if you’re registered for VAT. This notice cancels and replaces Notice 700/21 (December 2017).

Picture of sales invoice