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Vat Margin scheme collectors items

We have only just found out about the vat margin scheme. There are a few items that we sell that are covered by this scheme.

What we intend to do is to raise a credit against any previous invoice and the raise a new invoice with the vat margin scheme details.

My question is should we raise a credit on the original invoice with the original date of the date we raise it.

And the new invoice should we raise it with the original selling date or the date we raise it.

Be grateful for advice.

Hi @TCG-UK

It may be best to speak to your accountant to make sure that you are correct.

If they are all relating to the same invoice then personally I would set them all with the same date so that the original invoice is cancelled by the credit within the same VAT period and the new invoice the same

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