Changes to VAT in construction sector
From Monday 1st March, VAT registered sub-contractors operating in the construction sector will face immediate reform with the introduction of the Domestic Reverse VAT Charge for Construction Services. Under the new arrangements, sub-contractors working on contracts which are not for the end user shall no longer charge VAT on their services. Instead, the main contractor will account for the Input and Output VAT on their VAT return.
Full details on the changes and how they will affect taxpayers is available at Domestic VAT reverse charge for Building and Construction Services
Gildernew & Co. Ltd make every effort to ensure the accuracy of the information herein. However, no reliance should be placed on any of the above without seeking independent professional accountancy, legal and/or financial advice.
Posted on February 26, 2021
