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:
* 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
* If this is the last straw for you, information on how A4G
Bookkeeping can take control of all of this for you so
you don’t have to worry about any of it.
* Any questions you may have
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.