Time is running out to get ready for new legislation, Domestic Reverse Charge (DRC), impacting those in the construction industry. From the 1st March DRC goes live and you must be ready.

DRC means sub-contractors in a CIS chain of supply will cease to collect VAT from other contractors. In its place a reverse charge system will apply. This makes the buyer of the sub-contractor’s service liable for VAT accounting in place of the supplier.

This is going to have a huge impact on your cash flow and admin, meaning some businesses will lose up to quarter of their cash flow. This comes at a time when your business may already be struggling to stay afloat.

To help you learn how to comply with the new rules and ways to reduce its impact on your cash flow, we ran a detailed webinar with Steve Taylor from Bibby Financial Services.

[Webinar] How to reduce impact of Domestic Reverse Charge

You will learn:

  • Simple break down of what Domestic Reverse Charge is
  • The steps you need to take to comply
  • Solutions to reduce the impact on your cashflow
  • Best practices to streamline your processes and reduce your admin
  • How A4G Bookkeeping can take control of all of this for you, so you don’t have to worry about any of it
  • How invoice finance will support your business through the up and downs caused by this new legislation
  • Any questions you may have

Domestic Reverse Charge | Our toolkit

We have created a Domestic Reverse Charge toolbox to give you as much information and tools as possible to help make this process smooth and with as little impact to you and your business as we possibly can.

As well as the webinar recording discussed above, we have put together an invoice template for your use and a standard letter for contractors to send to their sub-contractors, which you can download by filling in the form below.

Email ayse@a4g-llp.co.uk if you have any issues.

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Is this the last straw? 

We wouldn’t blame you if this new piece of legislation is the law straw for you. All you want to do is get on and earn a living, not have to deal with all this added admin and time.

If that’s how you feel, A4G Bookkeeping provide comprehensive services to take care of all of this for you from basic bookkeeping, Construction Industry returns, VAT and management accounts. Rates are competitive and more importantly you have peace of mind that all the admin and red tape is being taken care of, enabling you to earn more or simply have a bit more time for yourself.

Book your free consultation now 

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