The VAT reverse charge for building and construction services is coming into effect so Sam answers the most frequently asked questions on this topic!
VAT reverse charge for building and construction services – FAQs
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VAT
A guide to the VAT Mini One Stop Shop scheme – what is it and do I need to register?
Sam provides a guide into what VAT MOSS is, whether it applies to you and when you do, and don’t have to register.
Construction Industry- VAT reverse charges delayed
HMRC has announced that the VAT reverse charge has been put back a year meaning it won’t start until 1 October 2020.
When are VAT payments due?
When are VAT payments due? Businesses submitting quarterly VAT returns are required to pay VAT due 1 month and 7 days following the end of the end of the VAT period. For example, a VAT period ending on 31 March will require payment of the VAT liability by the 7 May....
How is VAT calculated?
How is VAT calculated? The standard rate of VAT 20%. If the goods or services you are supplying are standard rated, then the easiest way to calculate the VAT that you must add is to divide the price (excluding VAT) by 5. For example, if you provide a service for...
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