Webinar: Building and construction services - it's time to prepare for the VAT Domestic Reverse Charge
If you are VAT registered and report under the Construction Industry Scheme (CIS), then it is likely that you will be affected by the new VAT Domestic Reverse Charge.
Previously due to be introduced on 1 October 2019, this was initially delayed due to Brexit to allow businesses longer to prepare, however with the Covid-19 pandemic this has been further delayed and will now be introduced on 1 March 2021.
The VAT Domestic Reverse Charge will introduce significant changes to the way that VAT will be payable on invoices and is a complex issue with far reaching consequences. Not only could it affect your accounting systems and how you deal with invoices from your suppliers and to your customers, but it may also impact your cash flow.
With not long to go until this is introduced, you need to make sure you are prepared and we can help you do this. As a starting point, we have put together a factsheet which explains the rules in more detail, together with some examples – please click here to download. We’d also encourage you to watch our webinar below for further information about this significant change.
Watch our VAT Domestic Reserve Charge Webinar
Presented by Tamara Habberley, expert at the VAT People, our webinar will ensure you have all the information you need to confidentally prepare for March.
What will you learn?
- Why the reverse charge is important and what it is intended to achieve from HMRC's viewpoint
- Circumstances where the reverse charge will apply to transactions
- Exceptions where the reverse charge will not apply
- How to account for the reverse charge in practice
- Impact if it is not correctly accounted for
- Information to give or collect from suppliers and customers
Click below to watch our webinar and if you'd like to discuss this further, please get in touch.
We're here to help...
We're here to help in any way, so if you have any queries, please do not hesitate to get in touch with us on 0121 693 5000 (Solihull Office) or 01527 833124 (Bromsgrove Office).