the domestic reverse charge

[Just Rizzle]

just had a call from my accountant to attend a seminar on the Domestic reverse charge vat which comes into affect on 1st oct 2019.
any one here herd of it?

 

[Dumbo]

just had a call from my accountant to attend a seminar on the Domestic reverse charge vat which comes into affect on 1st oct 2019.
any one here herd of it?

No but tell him to go as he is the one that will be dealing with it .

 

[Just Rizzle]

No but tell him to go as he is the one that will be dealing with it .

this could affect every one who is vat registered and cis registered just looked it up on gov web site
vat;domestic reverse charge for building and construction industry

 

[Italy]

just had a call from my accountant to attend a seminar on the Domestic reverse charge vat which comes into affect on 1st oct 2019.
any one here herd of it?

i 😉 .. --- -..-- nn

 

[J Sid]

this could affect every one who is vat registered and cis registered just looked it up on gov web site
vat;domestic reverse charge for building and construction industry

And what it say Ray?

 

[Bill]

Click the link below for info

Check when you must use the VAT domestic reverse charge for building and construction services

Find out about the reverse charge for supplies of services reported within the Construction Industry Scheme (CIS).

www.gov.uk

 

[Bill]

It is a tough read..........

I am not VAT registered so I don't have to read too hard!

Also, it will not affect consumers by the looks of it and only those that are VAT registered........ seems a funny way to collect excise duty but if it collects more than before then I can understand why they are changing it.

 

[Dan]

If you're VAT registered anyway, you're charging (collecting) and passing it onto the government anyway, so surely reading and understanding this would only do you a solid. Because it's surely about where you don't need to pass it onto the gov....?

Ahhhh wait there. So like with new builds being VAT exempt some building in general is now?

No wait there that's not it either!! Pmsl

Always clear as a whistle with these changes aren't they lol

 

[Boggs]

They don’t make it easy reading do they! 😵

Looks like it applies to the vat registered selling to vat registered?

Maybe....

 

[Italy]

And what it say Ray?

reverse charge
for about 7/8 years it works like this:
the invoices made to VAT number holders
(builders, tilers, etc.) must be without VAT.
vat pay the bill recipient.
all work for private customers or VAT number holders
who do personal work.
the invoice must include VAT
you have to pay the vat.
does not work google translate .... 🙁
I hope you understand
[automerge]1567622754[/automerge]

They don’t make it easy reading do they! 😵

Looks like it applies to the vat registered selling to vat registered?

Maybe....

yes, but not for personal work.
example: a builder builds his own house,
invoice must also include VAT
[automerge]1567623065[/automerge]
this procedure is for those who issued false invoices, took the money from the VAT and threw the bill into the basket.
without registering it, a cross-check was needed to find the evader.