Delay in CIS VAT Reverse Charge Construction Industry
HMRC has finally responded to businesses who have had serious concerns about CIS reverse charge implanting early as 1st October 2019. HMRC has finally announced this is to be delayed by at least 1 year to launch and implemented by 1st October 2020 instead.
Why is there a delay in CIS VAT Reverse Charge Construction Industry!
HMRC had been facing a lot of pressure from the construction industry sector who is trying to coup with undecided Brexit uncertainty already. CIS reverse charge was adding a lot of pressure for businesses and many were not even ready yet, hence HMRC has finally announced this delay today. This news has come as a welcome relief for many construction industry businesses. Get full detail here
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