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Interest on Vat invoices

Posted 4 August 2016

Borrie says:
4 August 2016 at 13:34

Good Day, I want to send out a statement to a client. And I need to ad interest on the outstanding amount. Should I calculate the interest on the non-vat amount of the invoice, or should I charge interest on the full outstanding amount (That includes the VAT)?

TaxTim TaxTim says:
4 August 2016 at 16:18

Interest would be charged on the total amount, however the interest itself would not have VAT on it.

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