When creating a tax invoice for your customers, it needs to be HM Revenue & Customs-appropriate. LegalVision’s free Tax Invoice Template will help. Simply customise it and use the built-in formulas to finalise your total.<\/p>\n <\/div>\n \n\nDownload Now<\/a> <\/section>\n <\/div>\n\n\n\n\n\n\n Continue reading this article below the form\n <\/i>\n<\/a>\n
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Your business should keep a record of its invoices regarding the ones you receive and send. This is a crucial part of your record-keeping, as you will need these details when you create your tax returns and self-assessments.<\/p>\n<\/div>\n\n\n\n
What Do I Need to Include in My Invoice? <\/h2>\n\n\n\n
Including the correct information in your eCommerce brand’s invoices is essential. This starts with clearly labelling the invoice so it is clear that it is an invoice. Knowing who should receive the invoice will also help, as this can ensure payment is made on time. <\/p>\n\n\n\n
However, there are legal requirements you, as an eCommerce business owner, must adhere to when writing about your invoices. These include:<\/p>\n\n\n\n
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- a unique number to identify the invoice from other ones;<\/li>\n\n\n\n
- an invoice date;<\/li>\n\n\n\n
- your eCommerce company name, address and contact details where the requirements differ slightly depending on the type of business you re, e.g. sole trader or limited company;<\/li>\n\n\n\n
- the name and address of the person you are invoicing, and if they are a business, you should state what type;<\/li>\n\n\n\n
- clearly describing what you are charging for, such as the details of the goods or services;<\/li>\n\n\n\n
- a date of supply, which is when you provided what you are charging for;<\/li>\n\n\n\n
- the total money due and the date it is due<\/a>; and <\/li>\n\n\n\n
- any other payment terms and information.<\/li>\n<\/ul>\n\n\n\n
VAT and Invoices<\/h3>\n\n\n\n
If you are a VAT-registered business and your customer is a VAT-registered one, your invoices must include VAT. <\/p>\n\n\n\n
If your eCommerce brand had a total VAT-taxable turnover of over \u00a385,000 in the past 12 months, you may register for VAT. If in doubt, take legal or accounting advice. <\/p>\n\n\n
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\n \n Tax Invoice Template<\/div>\n\n - any other payment terms and information.<\/li>\n<\/ul>\n\n\n\n