Mark Watterson and Gary Barnett (Simmons & Simmons) provide your monthly review of the VAT developments that matter.
VAT reverse charge for construction services
The legislation to introduce a reverse charge on certain supplies of construction services with effect from 1 October 2019 has been enacted. The Value Added Tax (Section 55A) (Specified Services and Excepted Supplies) Order SI 2019/892 will in general terms introduce a VAT reverse charge on supplies of construction services through intermediaries to which the provisions of the Construction Industry Scheme (CIS) also apply. However since the purpose of the legislation is to prevent missing trader fraud opportunities within the construction industry the legislation includes a number of exceptions for low risk situations such as where the supply is made to the final consumer.
Under the reverse charge measure VAT on certain supplies of...
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Mark Watterson and Gary Barnett (Simmons & Simmons) provide your monthly review of the VAT developments that matter.
VAT reverse charge for construction services
The legislation to introduce a reverse charge on certain supplies of construction services with effect from 1 October 2019 has been enacted. The Value Added Tax (Section 55A) (Specified Services and Excepted Supplies) Order SI 2019/892 will in general terms introduce a VAT reverse charge on supplies of construction services through intermediaries to which the provisions of the Construction Industry Scheme (CIS) also apply. However since the purpose of the legislation is to prevent missing trader fraud opportunities within the construction industry the legislation includes a number of exceptions for low risk situations such as where the supply is made to the final consumer.
Under the reverse charge measure VAT on certain supplies of...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
