UK VAT and non payment

[Berni Elbourn]

Maf. King wrote:

> Well, that depends!  VAT is normally calculated on what is known as  "accruals 
> basis" - the Tax Date of the invoice is the date which counts, not the date 
> you *actually* get the cash!


Huge thanks. I have lots to learn. I guess its not so bad if GC can 
support bad debts. Does GC the invoice/bills tax system support bad 
debts to reclaim VAT for unpaid bills?

Or would you just post a reversing transaction?

Berni