Category: VAT

HMRC’s new domestic reverse charge for construction services comes into force on 1 March 2021. There are lots of rules surrounding this, and we have tried to summarise this as simply as possible, but you must be familiar with the full rules if this affects you. Any errors will have significant impact on the VAT you

I’m a sub-contractor. What does the VAT reverse charge for construction services mean for my business? Invoicing  Firstly, you will need to consider who you are supplying, so whether the domestic reverse charge applies e.g. whether they are VAT registered, CIS registered, end user (see flowchart). If you are supplying an end user that is

I’m a contractor. What does the VAT reverse charge for construction services mean for my business? Receiving an invoice from your supplier  For supplies that fall within the VAT domestic reverse charge rules you should receive an invoice from any VAT registered subcontractor with no VAT, but with a statement that reverse charge rules apply.

VAT Domestic reverse charge for construction services in 2021 HMRC’s new domestic reverse charge for construction services comes into force on 1 March 2021.  What is the background behind this scheme? The aim of this measure is to combat missing trader fraud in the construction sector. HMRC predict that missing trade fraud has cost the

Tips for claiming VAT with your paperwork In order to claim back VAT paid on purchases HMRC expects your company to have a proper invoice or receipt in the name of your business. However, it concedes that it’s not always possible, particularly in situations where the purchase was impromptu, say when it’s made by you