HMRC has announced an update to VAT Reverse Charge. This update states that HMRC will now introduce VAT Reverse Charge on 1st March 2021: 5 June 2020 The introduction of the domestic reverse VAT charge for construction services has changed from 1 October 2020 to 1 March 2021. https://www.gov.uk/guidance/vat-domestic-reverse-charge-for-building-and-construction-services VAT Read more…
HMRC have announced that there will be changes to VAT payments to help businesses cope during the Coronavirus (COVID-19) outbreak. If your VAT payment is due between 20th March 2020 and 30th June 2020 you have the option to defer the payment to a later date. But you can still Read more…
There has been an update to when this will be introduced, click here for further details VAT Reverse Charge is a major change to how VAT is collected in the building and construction industry. It will affect how you account for VAT if you buy or sell in construction services. Read more…