by MAS | Sep 4, 2019 | Business advice, CIS, HMRC, VAT
A new reverse charge procedure will be introduced for the construction industry on 1 October 2019. What’s the latest news? Policy. HMRC is seeking to reduce VAT fraud in the construction industry. This means that builders will no longer charge VAT to other...
by MAS | Aug 6, 2019 | Business advice, CIS, Financial news, HMRC, Tax
The Federation of Master Builders (FMB) is warning that a major change in the way that VAT is accounted for in the building and construction sector which takes effect later this year may cause chaos. The VAT domestic reverse charge for building and construction...
by MAS | Jul 26, 2019 | CIS, HMRC, VAT
The Federation of Master Builders (FMB) is calling for a six-month delay to implementation stating that levels of awareness about the changes to VAT reporting are low and few companies have made preparations for it. In a complete overhaul of the way VAT is payable on...
by MAS | Jul 15, 2019 | Business advice, CIS, Financial news, HMRC, VAT
In a complete overhaul of the way VAT is payable on building and construction invoices, the introduction of the domestic reverse charge from 1 October 2019 means that the customer receiving the service will have to pay the VAT owed straight to HMRC instead of paying...
