Your monthly statements from Bulb can be used as VAT invoices for your business. VAT is charged on energy used, not payments made. So you’ll receive your first statement by email at the end of your first month, when we’ve calculated your energy usage for that month.
As well as sending your statements by email, we also make them available to download in the 'Payments and Statements' section of your Bulb account, and the 'Payments' section of the Bulb app.
You pay for your energy in advance
Bulb takes payments for your energy at the start of the month. Payments are the same every month because we spread your energy costs evenly over the year.
Your monthly payments enter your Bulb account as credit
When we take your monthly payment, it goes from your bank account into your Bulb account. The money in your Bulb account is called credit.
At the end of the monthly billing period, we work out your energy usage by checking your meter readings, or using estimated readings if you haven’t submitted any. And we charge you for the energy you’ve used by taking credit from your Bulb account.
Your monthly statement will show how much energy you've used, what it cost and the VAT on that cost. The amount of credit we take from your Bulb account will be the cost and VAT combined.
While your payments into your Bulb account are the same each month, the amount of credit we take to cover your monthly usage will change throughout the year as you use more or less energy.
VAT is charged on energy used, not payments made
The amount of VAT you pay depends on the amount of energy you use. It’s not based on how much money you’ve paid into your Bulb account. We calculate your energy usage at the end of the billing period, so we send your statement one month after the payment is taken.