In order to recover VAT on the expenditure for Clubs, Societies & Projects we must have evidence that VAT was paid in the first place. This is done by collecting the correct receipts at the time of the purchase. This is important as VAT can make a significant impact on the financial health of a Club, Society or Project.
For an amount less than £250, the receipt must contain:
- name and address of the supplier
- date of supply
- VAT registration number of the supplier
- description of goods/services purchased
- total, including VAT amount and VAT rate(s).
If the amount is over £250 a VAT invoice should be issued which must have:
- name and address of the supplier
- date of supply / invoice date
- unique invoice number
- VAT registration number of the supplier
- customer name/address - which must be Imperial College Union, Prince Consort Road, London, SW7 2BB
- description of goods/services purchased
- for each good or service supplied the document should show:
- good/service description
- VAT rate
- net unit price
- quantity
- total net cost
- total VAT amount,
- invoice gross total (including VAT)
For any further queries please email icu.finance@imperial.ac.uk.
