HMRC have announced a five month delay to the introduction of the VAT Domestic Reverse Charge.
The significant changes to how VAT is applied to services in the construction industry will now not come into force until 1 March 2021.
The delay will no doubt be a relief for many construction businesses who are already having to deal with the uncertainty caused by the COVID-19 pandemic.
You can read the full guidance regarding these changes on HMRC’s website.
If you have any questions, our team of expert Accountants would be happy to assist.
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