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

© 2020 Poole Resources Ltd. All rights reserved. Poole Resources is a trading name of Poole Resources Limited. Registered in England & Wales No: 06138681. Registered office as below. A list of directors is available upon request.


Poole Resources Ltd, 95 High Street, Street, Somerset BA16 0EZ
We use cookies on this website, you can find more information about cookies here. powered by totalSOLUTION
ACCA logo