Important Changes in Early Settlement Discount Legislation

Since 01 April 2015, the process when raising or receiving a VAT invoice including early settlement discount has changed. Suppliers must now account for VAT on the amount they actually receive and customers may recover the amount of VAT that is actually paid to the supplier.

We have updated our WebForms service in line with this change. This change only effects suppliers who use the settlement discount facility with their trading partner.

If you need to inform us of a settlement discount or days to payment agreement which is not already visible on your WebForms invoices then please update us by emailing:

webforms@cc-ltd.com