Taxation and your business
Are your VAT records in order?
If you are VAT registered, you must keep records of all taxable goods and services received or supplied (including anything taken for private use) and of any exempt supplies.
Your records must be sufficient to enable your VAT liability to be correctly ascertained, and must include copies of VAT invoices issued and all invoices received on which VAT input tax is claimed.
You must summarise your records for each VAT period in a VAT account, showing specific details of output and input tax.
You have to keep your records and related documents for six years.
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