From 1st October 2019, all businesses that are VAT-registered and work in the building and construction sector need to be aware of and ready to collect VAT under the new rules.
In our previous blog - VAT: domestic reverse charge for building and construction services – we explained how the domestic reverse charge would affect the building and construction services from 1st October 2019.
In July we gave an update on the domestic reverse charge VAT scheme for construction and building services.
We wanted to make sure that all businesses registered for VAT that are in the construction sector and building services were aware of the changes.
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When you first start a business, your focus is usually on attracting customers, generating sales and building a successful company. Few business owners spend much time thinking about how or when they will eventually leave the business.
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