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In amongst trying to get your business going through the current crisis with Coronavirus, there’s new legislation for construction businesses coming into effect on 1st October 2020 which is going to impact your cashflow even more: Domestic Reverse Charge.
Domestic Reverse Charge (DRC) is a major change affecting how VAT is collected in the building and construction industry.
In short, it means from the 1 October 2020, the customer receiving the service will have to pay the VAT due to HMRC instead of paying the supplier. They can recover the VAT in the usual way.
Emma, Partner at A4G, will be running a webinar on Thursday 21st May at 4:00 pm covering:
We hope this webinar will provide you with some clear information about DRC and an actionable plan to make you feel somewhat at ease during this tough time when your cashflow is probably at risk already.
Fill in your details here to reserve your space at this event. If you have any questions you want answered in the webinar, please email them over to email@example.com.
If you can’t wait for the webinar, we are here to help you. Contact your Client Manager or email us at firstname.lastname@example.org to book a consultation which includes a tailored report setting out the impact on you and the steps you need to take.
In the meantime, read our article here for a brief outline of what DRC is and how it impacts you and your cashflow.