HMRC requirements for VAT MOSS (record keeping)

In the previous article from October, we looked at what VAT MOSS was and how the registration process works.

In this blog, we would look at the records HMRC expects to be kept by the business for each VAT MOSS sale. These include :

• the member state where the sales were made - known as the member state of consumption
• the date you supplied a service
• the taxable amount, including the currency used, including any increase or decrease of the taxable amount
• the VAT rate that was applied for the sale
• the amount of VAT due and the currency used

Most of the above information would be covered in the sales invoice and would be readily available. This information is to be reported periodically in the VAT MOSS returns.
Link for the Union VAT MOSS Return template is given herewith.

In addition, the business must also keep a record of :

• payments the business received - the dates and amounts
• any payments on account the business received for services before supply was actually made
• the information shown on any invoices you issued
• customers names - where known
• the information you used to work out where a customer is based

The above information must be kept for 10 years and the business should be able to send it to HMRC electronically if asked.