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Backdating invoices for vats

Having said that, until you have established confidence in the customers, perhaps you should consider payment on delivery. This is never a good idea.

Firstly, additional formalities may be needed to complete the legal transfer of assets or granting of rights. We are aware that this is an ongoing problem which the legislature would need to address. Consider using credit forums to get further insight from peers on businesses that you are considering taking on. Increasingly records are kept electronically and this can be more effective. Posting your cash receipts promptly and accurately and making sure your credit control team are alerted the instance an account is outside of contracted terms is vital.

Consider using credit

If that happens, you need to react before you supply or supply further. It's rather too simple to assume that it's payer naughtiness that's the main problem. Nothing in this query and answer should be construed as constituting tax advice or a tax opinion.

Firstly additional formalities may

Companies are increasingly including payment data information within company credit reports so you can see how people are paying in the real world. Well, it depends on what was transferred, and whether it can be said that the relevant transaction has already happened. Establish whether you are dealing with a sole trader or a limited company and validate your findings against what you have been told.

For example, the selling and buying companies participating in a business transfer may agree between themselves to treat the transaction as if it happened at the previous year end. Deal in cash up front where you can, if you're going to give credit make sure you know who the customer is. Secondly, the transfer may trigger liabilities, such as where the relevant group companies participated in a defined benefit pension scheme. Agree the payment terms before you accept the order.

We are aware that thisCompanies are increasingly including paymentWell it depends on what was

The key is making sure the negotiation is clear and understood by both parties, and ensuring that nothing received from the customer imposes terms that override the agreement. With a bit of thought and investigation, is it often possible to achieve a result which gets close to the desired result and also lets you sleep at night.

Establish whether you are dealing with