CIS Domestic Reverse Charge Delay
On Friday 6th September, HMRC responded to pressure from the construction sector by delaying its CIS Domestic Reverse Charge. The implementation of the reverse charge has been postponed for at least another twelve months, and is now due to come into effect from October 2020. For the full brief from HMRC please click here.
The delay was petitioned for as many of the businesses in the affected industries did not have time to prepare for the changes. This, along with the pressures of a no-deal Brexit would have created many problems for the sector.
The Domestic Reverse Charge will affect all VAT registered businesses working in the construction and building industries. For more details of what to expect when the charge is implemented, take a look at our blog post here.
To help our customers prepare for the VAT changes, we’ve created this short guide explaining everything you need to know about the Domestic Reverse Charge, as well as some useful tips on getting ready for the switch. You can view our full guide to the CIS Domestic Reverse Charge here.