Changes to VAT for the Construction Industry
From 1st October 2019, new tax legislation will see the construction industry move to 'reverse charge' for VAT. It is very important that any VAT registered business involved in the construction industry seek guidance as soon as possible, so that they are clear on where they stand. Matthews Hanton will of course be happy to assist in this regard.
Update 10/09/2019: HMRC have now announced a 1 year delay on this legislation, so the requirement to reverse charge the VAT within the Construction Industry will now apply from 1st October 2020, barring any further changes. We would still advise clients to look into this legislation if they feel that they may be affected.