Bank account in process of being set up. Help Please?

[pleomax]

I now find out that i can not apply for VAT untill my bank account is set up.

Potentially starting a new contract tomorrow and will be invoicing at end of the month.
Can i still use the lines:
VAT Registration Pending.

Seperate VAT Invoice to follow upon Registration.
On my invoices even though i have yet to apply?
Also would i invoice say £100 or £117.5?

[pmeswani]

I now find out that i can not apply for VAT untill my bank account is set up.

Potentially starting a new contract tomorrow and will be invoicing at end of the month.
Can i still use the lines:
VAT Registration Pending.

Seperate VAT Invoice to follow upon Registration.
On my invoices even though i have yet to apply?
Also would i invoice say £100 or £117.5?

This has been covered before. You should search the forum for an answer.

But to save you time..... on the first invoice you charge them the amount withouth the VAT added and state on the Invoice that VAT Registration Pending. Let the client / agency know before you raise the invoice to make sure they are ok with this.

Alternatively.. speak to an accountant.

[pleomax]

Thank you, I was looking for confirmation that I had understood more than anything.

Pleomax

[BrilloPad]

I now find out that i can not apply for VAT untill my bank account is set up.

Potentially starting a new contract tomorrow and will be invoicing at end of the month.
Can i still use the lines:
VAT Registration Pending.

Seperate VAT Invoice to follow upon Registration.
On my invoices even though i have yet to apply?
Also would i invoice say £100 or £117.5?

I did this late September with any issues.

[pmeswani]

Thank you, I was looking for confirmation that I had understood more than anything.

Pleomax

You may need to state on the invoice "VAT to follow in next invoice" to make it clear. But as I said, search the forum for the correct wording. The answer is out there.

[TheFaQQer]

You may need to state on the invoice "VAT to follow in next invoice" to make it clear. But as I said, search the forum for the correct wording. The answer is out there.

I wouldn't say when it is coming - unless you know from the VAT office when your registration is going to come through.

"VAT registration pending" is all you need to put where you would normally put the VAT number, but it doesn't hurt to explain to the agent that this is what you are doing so that they are expecting it.

[DonaldG]

Remember on your invoice to charge for the VAT Inclusive amount. You should charge 15% VAT, unless your VAT Certificate comes before Monday.

No VAT Number? No Problem
But the result of all this is that you may have to wait a long time before you get your VAT registration number. What do you do in the meantime?
As the Revenue points out, you should be aware that you are required to account for and pay any VAT due from the date you are liable to be registered, not just from the date you apply for registration or from when you receive your certificate.
Here's what you do: although you cannot charge VAT before you are registered or show VAT as a separate item on any invoices you issue, you can change your prices to include VAT. You can do this from the date you should be registered and before you receive your Certificate of Registration. Obviously you will need to explain this to the agency or client you work with!
You will need to explain to your customers that you will be sending them VAT invoices later. Once you have your registration number you should send them VAT-only invoices referring to the numbers on the invoices 'for invoice no. 3, VAT included was (x) pounds.'
Just include the VAT in your prices and invoice separately for it later