VAT reverse charge for construction services consultation

HMRC proposes to introduce new VAT rules for construction services which are subject to consultation.

HMRC has published a draft statutory instrument for technical consultation together with a draft explanatory memorandum and a draft tax information and impact note.

Under the draft legislation supplies of standard or reduced-rated construction services between construction or building businesses will be subject to a domestic reverse charge. This means that the customer will be liable to account for VAT due, instead of the supplier.

The legislation will not apply to specified supplies made to customers who are consumers, or to those that use specified supplies to make other supplies, such as those selling new houses.

The legislation is expected to take effect from 1 October 2019. More details of the proposed new rules can be found at the following link.

Internet link: GOV.UK consultation

 

Home | Attribution | Contact us | Site map | Accessibility | Help | Disclaimer |

© 2019 Sure Accounting Limited. All rights reserved.


ACCA logo
Sure Accounting Limited, Arena Business Centre, 9 Nimrod Way, Ferndown, Dorset BH21 7UH
Telephone: 01202 802157

Registered in England, Company no 5965950 | Registered Office: Sure Accounting Limited, Arena Business Centre, 9 Nimrod Way, Ferndown, Dorset BH21 7UH