VAT Reverse Charge Delayed
PhilHallAAT
Registered, Moderator Posts: 80 mod
in VAT
On Friday 6 September 2019 the Government confirmed that the introduction of the domestic VAT reverse charge for construction services will be delayed for a period of 12 months until 1 October 2020.
The VAT reverse charge makes the payment of VAT the responsibility of the customer rather than the supplier, which is an enormous change to the system.
Given the magnitude of the change, the short notice and the general lack of awareness as to what this means in practice, AAT backed the National Federation of Builders and Federation of Master Builders in calling for a delay to its implementation. AAT is therefore very pleased that the Government has taken on board these concerns and agreed to a one-year delay.
Full details about this delay are available from HMRC here.
The VAT reverse charge makes the payment of VAT the responsibility of the customer rather than the supplier, which is an enormous change to the system.
Given the magnitude of the change, the short notice and the general lack of awareness as to what this means in practice, AAT backed the National Federation of Builders and Federation of Master Builders in calling for a delay to its implementation. AAT is therefore very pleased that the Government has taken on board these concerns and agreed to a one-year delay.
Full details about this delay are available from HMRC here.
0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 314 NEW! Qualifications 2022
- 159 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 85 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 92 Software
- 273 Tax
- 135 Bookkeeping
- 7.2K General accounting discussion
- 200 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 581 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership