VAT Notice 700/62: self-billing updated
Released 09 November 2017
HMRC have updated VAT Notice 700/62 (9 November 2017) to clarify requirements for self-billing agreements and confirm the self-billee is responsible for output VAT.
VAT Notice 700/62: self-billing explains self-billing for customers and suppliers. Self-billing is a commercial arrangement between a supplier and a customer in which the customer prepares the supplier’s invoice and forwards a copy to the supplier with the payment. The notice has been updated to add guidance to paragraphs 3.1 ‘Contents of agreements’, to clarify the requirements for self-billing agreements and 6.4 ‘VAT treatment of the self-bills received’ to confirm the self-billee is responsible for accounting for output tax. This notice cancels and replaces Notice 700/62 (September 2014).
View the updated VAT Notice 700/62: self-billing.