Due to the rising pressures within the highly competitive property and construction industry, the need for specialist support to improve and maintain business strength is at an all-time high.
As leading construction accountants in the UK, we pride ourselves on our expert sector knowledge that enables our clients to maximise the value of their projects despite the complex compliance and regulations in place.
The strategy taken by construction companies to achieve objectives in terms of cost, duration and profit requires careful consideration, particularly since the recession due to the rise in capital outlays and competition affecting bidding prices.
This has placed higher emphasis on the need for better project cash flow projections, to eliminate the risk of loss and support the financial needs of businesses within such a competitive and complex market.
The introduction of the domestic reverse charge for construction services will be delayed from 1 October 2020 until 1 March 2021 due to the impact of the coronavirus on the construction sector.
In addition to the five-month delay in implementation, the original legislation will be amended.
Now, for a business to be excluded from the reverse charge because they are end users or intermediary suppliers, they must inform their sub-contractors in writing that they are end users of intermediary suppliers.
Click here to download our fact sheet to see how the charge will impact your business.
You can contact us for further information. Our team will be happy to help.