Time of supply ― overview

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note provides an overview of the time of supply rules, which are sometimes referred to as the tax point rules.

For detailed commentary on the time of supply rules for goods and services, see De Voil Indirect Tax Service V3.131–V3.143.

Introduction to the time of supply and VAT

The time of supply rules determine when a supply of goods or services takes place for VAT purposes. If a payment is not consideration for a supply of goods or services the time of supply rules do not need to be considered in relation to it. For example, the time of supply rules do not need to be considered in relation to a payment made as compensation for loss or damage.

The time of supply rules are sometimes referred to as the tax point rules because the term ‘tax point’ followed by a date on a VAT invoice refers to the time of supply of the goods or services the invoice relates to. The tax point date on a VAT invoice should meet the

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