Uk People - Do you ask for invoices from affiliates for tax purposes?
 

Hi All,

Do you ask affiliates to send you an invoice every time you are paid for tax purposes? If not, what do you show your accountant for this?

I show my accountant a meat cleaver.

I just show statements of money coming in/out from my various accnts and then make a spreadsheet.

I think you mean sponsors, not affiliates. You are the affiliate.

No invoices required. Check stubs and bank statements cover it.

Not in the UK, but in another EU country.

1. If you don't create invoices, you will need to keep a cash book.

2. It all depends on whether or not you are declaring it as personal income or if you have (registered) company (like an llc).

If the affiliate program is based inside the EU VAT zone and you or your company are VAT registered, you have 2 possibilities:

Either ask them to send you credit invoices or ask them for their VAT number and send them an invoice for every payment.

If you don't, you will have to pay the VAT (15%, 18%, 19%, 21%, 25% or whatever base don your location) out of the payment you received. (that means a 25% loss in profits).

My advice: talk to an accountant.