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