Further delays to the Domestic Reverse Charge VAT for construction services Category: Property & Construction - Posted On: Jun 5 2020 HMRC have today announced a further delay to the implementation of the Domestic Reverse Charge VAT (DRC) for Construction Services until 1 March 2021. The reason for this delay is to limit the impact to the construction sector who is already feeling the effects of the coronavirus pandemic. HMRC has also added an amendment to the original legislation, which was laid in April 2019. From 1 March 2021, it will now be a requirement that businesses must inform their sub-contractors in writing to be excluded from the reverse charge because if they are end users or intermediary suppliers. To explain the delay and discuss the amendment, HMRC have published Revenue and Customs Brief 7 (2020) with further information. If you would like to discuss the Domestic Reverse Charge VAT, and how the delay will affect you, please email our EQ Property & Construction team at property@eqaccountants.co.uk or contact one of our offices. Alternatively, if you would like to discuss any VAT issues affecting your business, please email our EQ Taxperts. All News View the latest news stories from all of our sectors. View All News News by category View the latest news stories from a specific sector. COVID-19 EQ News People Experienced Professional Graduate Intern RGU Placement School & College Leaver Services Audit & Reporting Corporate Finance EQ Accounting Bookkeeping Cloud Accounting Management Accounts Payroll Taxation International Tax Making Tax Digital Personal Tax Specialisms Agriculture Charities Engineering & Manufacturing Healthcare Leisure Food & Drink Professions Property & Construction Technology
Further delays to the Domestic Reverse Charge VAT for construction services Category: Property & Construction - Posted On: Jun 5 2020 HMRC have today announced a further delay to the implementation of the Domestic Reverse Charge VAT (DRC) for Construction Services until 1 March 2021. The reason for this delay is to limit the impact to the construction sector who is already feeling the effects of the coronavirus pandemic. HMRC has also added an amendment to the original legislation, which was laid in April 2019. From 1 March 2021, it will now be a requirement that businesses must inform their sub-contractors in writing to be excluded from the reverse charge because if they are end users or intermediary suppliers. To explain the delay and discuss the amendment, HMRC have published Revenue and Customs Brief 7 (2020) with further information. If you would like to discuss the Domestic Reverse Charge VAT, and how the delay will affect you, please email our EQ Property & Construction team at property@eqaccountants.co.uk or contact one of our offices. Alternatively, if you would like to discuss any VAT issues affecting your business, please email our EQ Taxperts. All News View the latest news stories from all of our sectors. View All News News by category View the latest news stories from a specific sector. COVID-19 EQ News People Experienced Professional Graduate Intern RGU Placement School & College Leaver Services Audit & Reporting Corporate Finance EQ Accounting Bookkeeping Cloud Accounting Management Accounts Payroll Taxation International Tax Making Tax Digital Personal Tax Specialisms Agriculture Charities Engineering & Manufacturing Healthcare Leisure Food & Drink Professions Property & Construction Technology