07/11/2024Autumn Budget 2024 – National Insurance Contributions
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08/06/2020
The introduction of the domestic reverse charge for construction services is to be delayed again because of the impact of coronavirus on the construction sector. HMRC have announced that the measure will now come into force on 1 March 2021 rather than 1 October 2020. The charge was originally to be introduced in October 2019.
The reverse charge means that UK customers who gets supplies of construction services must account to HMRC for the VAT due on those supplies rather than pay the VAT to the supplier. This is part of an anti-fraud measure in which suppliers having been paid VAT then don’t account for it to HMRC and instead disappear.
There is also to be an amendment to the original legislation which will require businesses that are excluded from the reverse charge because they are end users or intermediary suppliers, to inform their sub-contractors in writing that they are end users or intermediary suppliers. This should enable suppliers to deal with the VAT on their supplies correctly.
“End users” include those businesses that do not on supply the construction services supplied to them e.g. retailers that spend money on properties used for their own retail businesses. “Intermediaries” can include companies that make supplies to end-user group companies or tenants that on supply construction services to their landlord.
We can assist advise you on the proposed reverse charge. Get in touch with your Memery Crystal contact or Alex Barnes, our Head of Tax to find out more.
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