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09-09-2019

Construction Industry: VAT Domestic Reverse Charge

Significant changes are afoot with effect from 1st October 2019 with the application of the domestic reverse charge (referred to as the reverse charge) to the collection of VAT in the building and construction industry. The changes apply to individuals or business registered for VAT in the UK (they will not apply to consumers) and will affect you if you supply or receive specified services that are reported under the Construction Industry Scheme. In essence, the customer receiving the service will have to pay the VAT due to HMRC instead of paying the supplier. 

More details can be found in the following link here. 

There is also a summary flowchart below for ease of reference: 
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