New Accounting Procedures for Builders

First Published: 1 February 2021

New procedures are being introduced on 1 March 2021. These changes were originally due to come into effect from October 2019 but were delayed to give businesses more time to prepare. The changes affect any VAT- registered construction business that does the following:

  • Buys in construction services from other builders and makes an onward supply of those services to another customer e.g. where a subcontractor invoices the main contractor on a project, and the main contractor invoices the final ‘end-user’ client.

  • Sells construction services to other builders where the builders make an onward supply of the services to their customer.

Read more information here

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Mitchell & Co

Chartered Accountants