After a number of delays, HMRC’s VAT domestic reverse charge for construction services is due to come into force on 1 March 2021.
The introduction of the reverse charge represents a significant procedural change and it is crucial that businesses in the sector understand how it will operate. The new rules will potentially impact on cashflow and we would recommend that all businesses in a construction supply chain make sure they are aware of the impact of the new rules.
The webinar broadly covers the following:
- An overview of the reverse charge mechanism for construction services;
- Changes that have been announced in the guidance in the last year;
- When it should be applied;
- The resulting administrative and systems impacts;
- Impacts on the VAT return for sub-contractors and contractors;
- Recommendations & suggestions for preparation in the lead up to 1 March 2021
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