It was announced by the Government on Friday that the implementation of the domestic reverse charge, which makes accounting for VAT on supplies of construction services the responsibility of the customer rather than the supplier, will now be delayed by 12 months and come into effect on 1st October 2020.
According to HM Revenue and Customs Brief 10 (2019), there have been concerns that some businesses in the construction sector are not ready to implement the changes and the delay will help businesses affected by giving them more time to prepare. The delay will also allow the government and construction industry to work together to deliver a sector-wide communications campaign.
Following this announcement, we have decided to postpone our breakfast seminar until 2020 so that we can update you on the latest rules and how they need to be implemented.
You can keep up to date with this and other relevant news by visiting our website – Whitley Stimpson News & Events, registering for our fortnightly Online Newsletter or by following us on social media – Twitter, Facebook or LinkedIn.
A revised date for the seminar will be announced in 2020 but if you have any concerns in the meantime, please do not hesitate to contact us.