VAT Reverse Charge-Industry asks for delay

21/08/2019

VAT Reverse Charge-Industry asks for delay

The new Reverse Charge VAT system due to be implemented on 1 October 2019 is likely to have a significant impact on the cash flow of your members registered with the Construction Industry Scheme (CIS). The industry has called for a delay to the new system, with 15 construction trade organisations including Build UK signing a joint letter to Government.

Build UK is working closely with HMRC to ensure it is aware of the implications on the sector and has also published a practical guide for members explaining the process and the actions required to comply. A reminder to SPRA members that all Build UK bulletins and updates are easily found on the SPRA Members Area of the website.

 

Source: Build UK