HMRC have announced today, 6th September 2019 that there will be a delay in VAT Reverse Charge implementation.
This will come as a welcome relief for most Construction Industry businesses, as many were unaware of the major changes.
The delay in VAT Reverse Charge will be for a period of 1 year. As a result the new implementation date will be 1st October 2020.
Delay in VAT Reverse Charge for the Construction Industry
HMRC had been under severe pressure from the Construction Industry to postpone the VAT Reverse Charge. As a result they finally decided to delay its implementation.
More information from the HMRC announcement can be found here Delay in VAT Reverse Charge HMRC Link
VAT Reverse Charge 1st October 2020
It has been confirmed by HMRC that the plans to change the VAT rules for the Construction Industry have not been scrapped. HMRC are still committed to its introduction in 1 years time.
If you weren’t aware of the originally planned changes our blog will explain it all. VAT Changes for Construction Industry
Other useful Construction Industry Blogs
At Patterson Hall Chartered Accountants we are experts within all aspects of the Construction Industry Scheme. We have produced an ultimate guide to all things CIS with many user friendly helpsheets and examples. Take a look at our CIS Accountants guide.
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