Daverns Chartered Accountants has particular expertise in the construction industry.
The construction industry faces its own unique set of challenges, compliance obligations and financial pressures, and it is essential to have in place effective business and financial management systems.
The introduction of VAT Reverse Charge on October 1st 2019 represents a significant change to the way VAT is accounted for and collected in the building and construction sector. It will:
- Further increase the importance of the CIS
- The business making the payment for construction services will be responsible for self-accounting for VAT
- Contractors will need to review contracts with sub-contractors to check if reverse charges apply
- Invoicing procures are likely to need to change to include the charge
- There are clear definitions about what is included and what is excluded
We work with all kinds of businesses in the construction sector and can help you in such areas as:
- Cashflow management
- CIS compliance
- Reverse charges
- Contract management
- Project management
- Raising finance
- Planning to minimise your taxes
- Employment status.
Contact us today to ensure we can help you meet the requirements by the 1st October deadline.