05 February 2021
The looming deadline
On 1 March 2021, significant changes are being introduced around the way VAT is accounted for on construction services. Under the new rules, it will be the customer that is liable to account for VAT under the reverse charge mechanism on construction services supplied that are currently subject to VAT.
How does it apply to me?
If you currently provide services on which you apply either standard rate or reduce rate VAT and the services you provide fall under the Construction Industry Scheme (CIS) rules, then the new rules will apply to you. If you only make supplies to the ‘end user’ then you won’t be caught by these new rules.
Our Regional Head of VAT, Sarah Hughes takes you through everything you need to know around the upcoming CIS changes and who it will affect most in her super simple guide.
If you would like discuss any of the advice further please get in touch with our team today.
Author
Sarah Hughes
VAT Partner
