VAT invoices - 2007 changes

From 1 October 2007, new regulations have been introduced for VAT invoices:

- a business should sequentially number any VAT invoices (and credit notes) that it issues. If they are not sequentially numbered they will not qualify as valid VAT invoices.

- any goods supplied under the second hand margin scheme should have a note to this effect on the invoice issued along the lines of “this invoice is for a second hand margin scheme supply”.