What is an RCTI and how is it treated for PTRS?

Quick answer

An RCTI is a Recipient Created Tax Invoice. PTRS applies a specific payment-time calculation to RCTIs using the RCTI issue date and payment date.

What does this mean?

Because the recipient rather than the supplier creates the tax invoice, RCTIs need to be identifiable separately in the TCP Dataset. The Regulator states that payment time for an RCTI is the number of calendar days between and including the RCTI issue date and the payment date.

Practical point

If RCTIs make up a substantial part of the payment population and the resulting payment-time metrics could be misleading without explanation, the guidance recommends using the report comments to provide context.

Other ways people ask this

• How do RCTIs work in Payment Times Reporting?
• Which date is used to calculate payment time for an RCTI?
• Do RCTIs need to be identified separately in the PTRS dataset?
• Does invoice receipt date apply to an RCTI?

Official sources

• Payment Times Reporting Guidance Materials
  RCTIs
  Paragraph: 141 · Page: 37
• Payment Times Reporting Guidance Materials
  Method to calculate payment times
  Paragraph: 167 · Page: 42
• Worked Example – Standard Payment Times Report
  Glossary
  Reference: RCTI

Related guidance

• How is payment time calculated for PTRS?
• Which invoice date should I use for PTRS?
• Does the invoice receipt date affect payment time?

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