Just days after HMRC finally got around to issuing proper information and guidance about the Construction Industry Reverse Charge they’ve announced that the controversial VAT scheme is to be delayed.
The Government has said that the start of the reverse charge scheme is to be put back until 1 October 2020. VAT experts and the movers and shakers in the construction industry have been pushing for delay. This is because of the lack of awareness and readiness among businesses affected.
We would give you this advice. If you have made changes to your billing and other systems ready for the reverse charge, please make sure that your accounts department and bookkeeping suspend until further notice. This would also include other parties
For further information and advice with regards to the Construction Industry Reverse Charge scheme get in touch. Indeed for any other tax matters, please feel free to contact us on 020 3755 2863 or Contact Us Here