Construction senior associate, Bal Manak, explains the main changes that take effect from today – 1 March 2021. VAT-registered subcontractors will no longer charge VAT on certain construction services to another VAT-registered business. Instead, the customer will ‘self-account’ for any VAT due – this is known as the Reverse Charge. The Reverse Charge rules will mean that the VAT will no longer flow around the supply chain and is not paid until it reaches an ‘end user’ or private individual.
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