From 1 March 2021 the domestic VAT reverse charge must be used for most supplies of building and construction services. You need to prepare for this change by:
• Checking when you must use the reverse charge on your sales, purchases or both
• Making sure your accounting systems and software can deal with the reverse charge
• Considering whether the change will impact your cash flow
• Making sure all your staff who are responsible for VAT accounting are familiar with the reverse charge and how it will work
• Contacting your clients and suppliers to let them know how the changes affect you
Check out our frequently asked questions to ensure you know exactly how to prepare for this change: