The VAT domestic reverse charge for construction came into force on 1 March 2021.It applies only to VAT-registered businesses that are supplying/receiving services that are reported under CIS. By moving the VAT charge down the supply chain, HMRC intends to make this kind of fraud impossible. The domestic reverse charge will apply to…
From April 2021 VAT-registered businesses with a taxable turnover above the VAT threshold (£85,000) are required to follow the Making Tax Digital rules by keeping digital records and using software to submit their VAT returns. MTD helps businesses get their tax right the first time and to prevent them from…