On 1 October 2019 HMRC’s new domestic reverse charge for construction services comes into force and applies to all invoices dated 1 October or thereafter on all projects – no , transition provisions.
On the face of it, the changes simply require a change in the way that VAT is accounted for within the supply chain.
But, on closer examination, the changes could have a significant impact on the accounting practices and cash flow of businesses in the construction sector. The lack of working capital for sub-contractors and the greatly increased liability of main contractors could lead to business failures where payments are not made correctly and on time.
We're working with Harrison Clark Rickerbys to offer a free practical workshop to guide you through the changes necessitated by the introduction of the VAT reverse charge in a practical and commercial way. We will help you to identify any potential issues so that they can be effectively managed and update you on the payment regime.
08.30 - Registration
09.00 - Workshop Introduction
09.05 - Terri Bruce (Director, BDO) and Lee Causer (Partner, BDO) discuss HMRC's Domestic reverse charge VAT and the implication for the construction sector
09.45 - Keith Blizzard (Partner, HCR Birmingham) covers the implications for the sector
10.15 - Q&As
10.30 - Finish