From 1 March 2021, if a business in the construction industry is registered for both VAT and CIS tax there is potentially a change in the way VAT is charged and collected on the supply of the servi...
From 1 March 2021, if a business in the construction industry is registered for both VAT and CIS tax there is potentially a change in the way VAT is charged and collected on the supply of the services between subcontractor and contractor.
There may be no change in the rate of VAT on construction services but the accountability will be shifting of the party responsible for paying the VAT over to HM Revenue and Customs.
If your business falls within the scope of VAT and CIS, you will need to know how the new rules affect you and the changes you need to make going forward.
For full guidance on the detail behind the domestic reverse charge and how it will affect you please visit http://bit.ly/3km9lRF or give us a call on 016975 08925.
