After a number of delays, HMRC’s VAT domestic reverse charge for construction services is due to come into force on 1 March 2021.
The reverse charge is a major change to the way VAT is collected in the building and construction industry, and means that customers receiving a service will have to pay the VAT due to HMRC rather than paying the supplier.
In this webinar Neil Warren will explain the new CIS VAT reverse charge and how it will affect your clients. Topics covered will include:
When will the reverse charge apply?VAT returns and invoicesWhat checks should supplies make on customers and vice versa?What is the '5% disregard and when will it apply'Flat rate scheme and builders
There will be an opportunity to ask questions.
Neil Warren is an independent VAT speaker, author and consultant and was a past winner of the Taxation Awards Tax Writer of the Year. He worked for HMRC for 13 years until 1997.
Access to this webinar is included within membership of the Tax Faculty, and to subscribers of Faculties Online. Tax Faculty membership gives you access to exclusive premium content including our regular magazine, webinars, TAXguides, tax advice via the TAXconnect scheme other online resources to support your career. For more information about faculty membership and our latest joining offers, please visit icaew.com/jointf. For more information about Faculties Online, please visit icaew.com/subscribefo.
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