Delayed – VAT Reverse charge for Building & Construction Services
Back in April we wrote about the VAT reverse charge with regard to building and Construction services. It was due to come in to effect on 1st October 2019.
This measure will affect VAT registered suppliers and customers of specified services where the payments are reportable for CIS.
The implementation of this has now been delayed until October 2020 giving both the government and those affected more time to get organised with the new way of managing VAT.
It’s important to keep this change in mind if you are in the building or construction industry, Vat registered and have payments are reportable for CIS.
The delay until October 2020 will mean a change in administration of VAT for those affected and it would be good practice to be ready for the changes when they are enforced.
To read our initial blog on the subject contain the details please click here.
If your business is VAT and CIS registered and you need further guidance then please give us a call on 01379 640555.
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