The government has announced that the VAT Reverse Charge for UK based Construction businesses will be delayed once again, this time until 1 March 2021 due to the impact coronavirus is having on businesses in the construction sector.
In addition, there will be also be an amendment to the original legislation, making it a requirement that businesses who need to be excluded from the reverse charge because they are end users or intermediary suppliers, must inform their sub-contractors in writing that they are end users or intermediary suppliers.
Further guidance from HMRC will be released in the run up to March next year, but in the meantime the latest government guidance can be found here.
If you need any further information about what you need to do to prepare in the interim period please contact your local account manager at SMH, or call 01142 664 432 or email info@smhca.co.uk.
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