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Construction

HOW WILL THE UPCOMING CHANGES TO OFFPAYROLL WORKING IMPACT REAL ESTATE AND CONSTRUCTION INDUSTRIES

The update now puts the onus of the SDS (Status Determination Statement) on medium or large companies using contractors. Companies which HMRC defines as a small company will not have to complete the SDS.

How to prepare for incoming CIS VAT reverse charge changes

With the continued changes coming from HMRC to the building and construction industry, there is yet another major change on its way which will affect both customers and suppliers who are CIS and VAT registered. 

VAT: Reverse charge for builders delayed until 2020

In a move hailed as a 'victory for common sense', the government has announced a 12-month delay to the introduction of the domestic reverse charge VAT for construction services, citing industry concerns and Brexit as the reasons behind the postponement.

Update on the VAT reverse charge for building contractors

From 1 October 2019, contractors who employ subcontractors, will need to assume responsibility for declaring and paying the VAT that was previously settled by their VAT registered subcontractors.

How will the VAT reverse charge for construction work?

From 1st October 2019 a VAT reverse charge will apply in the UK to supplies of construction services, this will mean that around 300,000 construction businesses will be required to change their accounting systems.   

Reporting tips for building contractors

HMRC recently published a list of helpful reminders regarding the submission of monthly returns to HMRC. This article lists some of the points highlighted.  

Reporting tips for building contractors

HMRC recently published a list of helpful reminders regarding the submission of monthly returns to HMRC. This article lists some of the points highlighted.  

Construction drawn into VAT reverse charge process

It would seem, that HMRC is keen to plug the apparent drain from VAT receipts when contractors and sub-contractors charge their customers VAT and then go missing, keeping the VAT for themselves. This is described in legislation as “missing trader fraud”.  

Construction drawn into VAT reverse charge process

It would seem, that HMRC is keen to plug the apparent drain from VAT receipts when contractors and sub-contractors charge their customers VAT and then go missing, keeping the VAT for themselves. This is described in legislation as “missing trader fraud”.  

What will be in the Budget on 22 November?

Philip Hammond will present his second Budget on 22 November. What principles will guide his decisions, and what tax measures will be the result?  

What will be in the Budget on 22 November?

Philip Hammond will present his second Budget on 22 November. What principles will guide his decisions, and what tax measures will be the result?  

Strength amidst uncertainty in 2017: the real estate & construction view

Our survey, completed by 691 business leaders from across the UK, finds continued uncertainty amongst owner managed businesses (OMBs). This view is shared in the real estate and construction sector where, although they are more confident than owner managed businesses overall, their confidence has dropped significantly compared to last year. 61% are confident about the general outlook for 2017, compared to 84% in previous year's survey. Combined with their lowered optimism, real estate and construction businesses are more likely than OMBs generally to have already experienced some negative impact from the Brexit vote (38% compared to 30% overall). Alongside this, again compared to OMBs in general, RE&C OMBs appear relatively unwilling to commit to specific strategies in 2017, and yet have little reticence about identifying the issues that concern them this year, both from a business and economic perspective.

Strength amidst uncertainty in 2017: the real estate & construction view

Our survey, completed by 691 business leaders from across the UK, finds continued uncertainty amongst owner managed businesses (OMBs). This view is shared in the real estate and construction sector where, although they are more confident than owner managed businesses overall, their confidence has dropped significantly compared to last year. 61% are confident about the general outlook for 2017, compared to 84% in previous year's survey. Combined with their lowered optimism, real estate and construction businesses are more likely than OMBs generally to have already experienced some negative impact from the Brexit vote (38% compared to 30% overall). Alongside this, again compared to OMBs in general, RE&C OMBs appear relatively unwilling to commit to specific strategies in 2017, and yet have little reticence about identifying the issues that concern them this year, both from a business and economic perspective.