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Change in the construction industry

2019 will see major change in the building and construction sector, with the introduction of the VAT domestic reverse charge for building and construction services, taking effect from 1 October.

The new rules will mean that the recipient, rather than the supplier, will have to account for VAT on specified construction services. The reverse charge will apply through the supply chain, where payments are required to be reported through the Construction Industry Scheme, up to the point where the recipient is no longer a business making supplies of specified services: the ‘end user’.

The new rules are likely to impose a significant administrative burden on businesses, as well as impacting on cash flow.

Contents include:

  • why the change is taking place
  • overview of scheme rules
  • who is affected
  • successfully planning for change.