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Commentary

Credit notes (United Kingdom)

55 United Kingdom

Key domestic legislation: VAT Regulations 1995 (SI 1995/2518), reg 15C

If a supplier has agreed to issue a credit note to a customer or offers a contingent discount and the customer is able to recover all of the VAT incurred, the supplier and customer can agree to issue a credit note without VAT. If the parties do not agree that the credit note may be issued

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