This paragraph examines the rules on accounting and payment of output tax. In particular, it considers:
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•ÌýÌýÌýÌý the general rule on the requirement to account for and pay output tax
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•ÌýÌýÌýÌý special rules that apply in particular circumstances
General rule on requirement to account for and pay output tax
A taxable person is required to account for and pay output tax on their supplies by reference to prescribed accounting periods1. Their supplies for this purpose include services and goods subject to the reverse charge2 (which are actually supplied by a person who belongs in a country other than the UK), self-supplies and other deemed supplies3.
A taxable person accounts for and pays output tax by:
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•ÌýÌýÌýÌý making an entry in the tax payable portion of their VAT account4 showing a total of output tax for each prescribed accounting period5
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•ÌýÌýÌýÌý accounting for all of their output tax for a prescribed accounting period in the return required to be furnished for
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