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Re: At the end of my teather with LSMB




On 28 May 2008, at 08:41, Luke wrote:
On Wed, 28 May 2008, ..hidden.. wrote:
Quoting Stroller <..hidden..>:

I did a "starting your own business" course at the local Chamber of
Commerce before I became self-employed 3 or 4 years ago, and my
understanding at that time was that invoice numbers had to be
*unique*, rather than consecutive.

I was told this by my accountant.  The tax trolls get very unhappy if
they perceive gaps in your numbering (what are you hiding in the gaps,
you traitor?).  I'll ask him again when I see him.

From the web site:

http://www.hmrc.gov.uk/vat/records-valid-invoice.htm

We get this:

"
How VAT sales invoices must be numbered

You must number your sales invoices in sequential order. If you spoil or cancel a serially numbered invoice, you must keep it to show to a
   VAT officer at your next VAT inspection.
"

Not all UK businesses are VAT registered, however. VAT is the equivalent, I think, of US sales tax, and one is only obliged to be VAT registered if one has a turn over in excess of (approximately) $100,000 per year.

The accounting and reporting requirements for non-VAT-registered businesses are - in general - much less strict.

Stroller.