We are hosting a Breakfast Briefing event with HMRC on Thursday 1st August at etc.venues Victoria in London, to explain the new Reverse Charge VAT rules set to be introduced on 1st October 2019.
Research from the Federation of Master Builders suggests that two thirds of construction companies haven’t even heard of the new rules, and of those who had more than 65% were not prepared for the change.
HMRC have warned that more than 150,000 construction companies could see their cash flow cut by the new rules, which mean that companies within the construction supply chain will no longer receive the 20% VAT when they submit bills. Instead, it will be paid directly to HMRC in a bid to reduce VAT fraud in the industry.
The new rules are also expected to result in serious administrative burdens for construction businesses.
Lack of information
“There seems to be a real lack of awareness in the construction industry about the new Reverse Charge VAT rules, which unlike Making Tax Digital, don’t seem to have been publicised as widely.” says Sophie Hurst, Managing Director at Integrity Software.
“Having run similar events with HMRC for our customers, we know that they are immensely helpful and provide a good platform for businesses to ask questions of HMRC directly, and get the answers they need regarding Reverse Charge VAT. We’re pleased to be opening this event up to non-customers, too.”
In HMRC’s briefing guests will find out:
- What is changing
- Why it's changing
- What they need to do to prepare
Register for your free place now
Join Integrity Software & HMRC on Thursday 1st August at 9am for breakfast rolls and refreshments at etc.venues Victoria. Businesses should register for their free place via Eventbrite here.
Integrity Software are providers of multi-award-winning financial management and job costing software specifically for the construction industry, with more than 800 customers throughout the UK and Ireland.
For more information on the software or to book a free on-site demonstration please call 03453 40 30 40 (UK) or +353(01) 6205599 (IRE) or email email@example.com