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VAT Reverse Charge

VAT domestic reverse charge 1st October 2020

The VAT reverse charge for construction is effectively an extension of the Construction Industry Scheme (CIS) and applies only to transactions that are reported under CIS and are between VAT-registered contractors and sub-contractors. The scheme means that those supplying construction services to a VAT-registered customer will no longer have to account for the VAT. Instead, the customer will account … Read more

Construction Industry Scheme

construction industry scheme

What is the Construction Industry Scheme? The Construction Industry Scheme (CIS) is a tax deduction scheme which involves tax being deducted at source from payments which relate to construction work.  Registering as a Contractor under the scheme You must register as a contractor under the Construction Industry scheme (CIS) if you: Pay subcontractors to do construction work If your business spends … Read more