Builders' VAT rules delayed for a year

on .

RWB_Builders'_VAT_Rules_Delayed_For_A_Year

 

For those of you in the construction sector.... your VAT rules have been delayed! 

Read more to see what's happening...

What's happening?

The government have decided to delay the start of the proposed VAT reverse charge for supplies by sub-contractors in the construction sector.

Why?

The reason for the u-turn is the lack of awareness of the change that was originally due to start on 1 October 2019. Many sub-contractors, and some main contractors, were not prepared for the changes on top of getting to grips with Making Tax Digital for VAT and consequently the government have decided to delay the start of the new rules for 12 months.

It has also come to light that some of those sub-contractors using the VAT flat rate scheme would be worse off which will require a review of whether that scheme is still worthwhile for them.

We can help you...

Get in touch with us, let us help you! Our team of tax experts can offer business advice and help you maximise your tax efficiency. Contact us today on 0115 964 8888 or email enquiries@rwbca.co.uk.

The views provided in this article are for general information purposes only. Nothing in this article represents advice of any nature whatsoever. Accordingly, RWB CA Limited does not accept any liability or responsibility for the information contained in this article or any decision or other action that may be taken in reliance upon the information contained within it. RWB CA Limited accepts no responsibility for any errors of fact or opinion and assumes no obligation to provide you with any changes to its assumptions.  

Tags: Financial planning Making Tax Digital Taxation Tax advice Tax planning Business advice VAT MTD HMRC Builders Construction Contractors

Our Location

Contact us

Our Location
Northgate House
North Gate
New Basford
Nottingham
NG7 7BQ

Contact Info:
Tel: 0115 964 8888
Fax: 0115 964 8889
Email: enquiries@rwbca.co.uk

Latest Tweets