Correct treatment
Miguel_Freyy
Registered Posts: 2
in VAT
Hi,
In the company I work for, we receive a quarterly payment for electricity generated through solar panels.
What would be the correct treatment on this, we don't seem to receive an invoice. So my guess here is to create an invoice with 5% VAT (energy VAT rate).
I tried to look for guidance on this matter but wasn't able to find anything in this specific situation.
Could someone help, please?
Thanks
In the company I work for, we receive a quarterly payment for electricity generated through solar panels.
What would be the correct treatment on this, we don't seem to receive an invoice. So my guess here is to create an invoice with 5% VAT (energy VAT rate).
I tried to look for guidance on this matter but wasn't able to find anything in this specific situation.
Could someone help, please?
Thanks
0
Comments
-
I am not sure about "creating" an invoice. You may be better off contacting the company paying you to see if they can provide you with any paperwork.
What I can be more sure about is whatever receipt you are receiving, it will be inclusive of VAT so some of it will have to be handed over for VAT.
The 5% VAT rate only applies for supply to domestic properties. Commercial sales of electricity is taxable at the standard rate (20%).0
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