Reverse Charge VAT delay is good news
Reverse charge VAT, which will make contractors responsible for handling VAT, was due to be implemented on 1 October 2019. However, the Government has listened to industry recommendations and agreed to delay the implementation of reverse charge VAT until 1 October 2020.
The National Federation of Builders (NFB), who partnered a coalition of fifteen construction organisations to recommend a six month delay, welcomes the Government’s decision and hopes to work with them on making sure industry is ready in 2020.
Richard Beresford, chief executive of the NFB, said: “Contractors and sub-contractors weren’t ready for reverse charge VAT and we are delighted that the Government has listened to our industry campaign to seek a delay.”
“The Government has given us double the time we recommended and this will help us work together to set up improved online guidance, hold workshops and make sure the entire industry understands what reverse vat charge means for their business.”
The NFB is holding a series of Regional Construction Forums around the country in October and November 2019. Leading construction tax expert Liz Bridge will be offering practical advice on how to deal with reverse charge VAT.
For details of the nearest forum to you, go to https://www.builders.org.uk/events/ and book your free place.
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