This is a major change to the way VAT is collected in the building and construction industry and was originally due to come into force on 1 October 2019, before it was postponed for a year due to the insufficient time for implementation. This legislation means that customers receiving a service will have to pay the VAT due to HMRC rather than paying the supplier.
HMRC also announced that there will be an amendment to the original legislation to make it a requirement for businesses to be excluded from the reverse charge because they are end users or intermediary suppliers, their sub-contractors must be informed of this in writing.
Following this announcement, we have decided to postpone our webinar until later this year in order to update you on the latest rules and the implementation.
We will be announcing a revised date shortly so keep an eye on our Whitley Stimpson News & Events web page or follow us on social media – Twitter, Facebook or LinkedIn. If you have any concerns in the meantime, please do not hesitate to contact us.