After a number of well-reported delays, HMRC’s VAT domestic reverse charge for construction services is due to come into force on 1 March 2021. The reverse charge will completely change the way VAT is collected in the building and construction industry. The new system is compulsory and will impact businesses who either supply, or receive construction services. We have put together a handy guide to help you navigate the new rules.
Please also see the recording of our recent webinar, in which our panel made up of VAT and Legal experts discussed the impact of the VAT reverse charge on Sub Contractors and the Construction Supply Chain and how firms can mitigate that impact.
For more information on the VAT reverse charge, or if you would like to discuss any other topics affecting real estate and construction then please get in touch with our team, including our VAT specialists.