HMRC sees the construction industry as a sector that presents a significant risk to the Exchequer. As a result, a reverse charge for building work is due to be introduced, to combat fraud. This will mean, essentially, that building contractors will not pay VAT to their sub-contractors but will account for it themselves. It is important that all affected parties familiarise themselves with the new rules before they are introduced on 1 October 2019.
How will the new reverse charge work in practice?
Source: deeksvat.co.uk
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