BASDA To Lobby HM C & E On VAT Ruling On Euro Invoices

Whilst UK companies can account in euro and submit their returns in euro to Companies House, the UK VAT authorities are insisting on all of their information being in sterling. A UK company can issue a euro invoice with VAT calculated in sterling at the rate that day, but the company receiving the invoice may find that the rate has moved significantly, and it will lose out on the VAT conversion.

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