Important VAT Briefing
With effect from 1st October 2019, HMRC are introducing a major change to the way that VAT is to be accounted for on construction services.
Based on the definitions of what are construction services within the CIS rules, a domestic reverse charge will apply to most VAT registered contractors within a supply chain.
You can read more about the headline changes in our recent blog post HMRC issues news VAT reverse charge guidance.
TC Group is holding a series of free regional events to clients and all businesses that are likely to be impacted.
Who should attend
This new reverse charge will affect not only building contractors but also any VAT registered business acting in the capacity as contractor or sub-contractor for building work, whether or not it’s their normal activity.
It is also worthwhile for contract lawyers, architects, and other professionals involved in construction projects such as cost consultants.
Why should you attend
This will affect the way that VAT is invoiced and accounted for on construction services.
Accounting systems need to be updated to deal with the reverse charge and it could have an impact on cash-flow within a contractor’s business.
The reverse charge will have to be included within contracts and terms of business.
We are holding breakfast briefings on the subject in the following areas (08.30-10.30am);
Farnham – Tuesday 18th June
Portsmouth – Friday 21st June
Thorpe Le Soken, North Essex – Thursday 18th July
Bristol – Wednesday 24th July
Southampton -Thursday 25th July
Bournemouth – Friday 26th July
Melton Mowbray – Thursday 5th September
To book your place contact us today, and let us know which location you are interested in so we can direct you to the right contact.
Or, contact your local partner or client relationship manager.