Call us now on 01829 332010 (Chester) or 0151 380 0104 (Liverpool)
The effects on supply chains from 1 March 2021
Those working in the UK’s construction industry will have to handle and pay VAT differently from 1 March 2021.
This was originally due to kick in from 1 October 2019, after an initial postponement for 12 months to allow businesses to prepare for the UK leaving the EU, then a further postponement due to Covid, this time it looks like any further delay is unlikely.
If you’re VAT registered and work in the construction industry the new rules change how you account for VAT. As a result , you may need to change how you present information on your invoices to your customers and how you prepare your VAT returns.
If you are not VAT registered you may find that you now need to register for VAT.