There are certain circumstances when building work is subject to the lower VAT rate of 5%. Here we explain when and how to apply the 5% vat rate on building services. When to Apply the 5% VAT Rate on Building Services The lower rate applies in these cases – renovating residential property which has remained empty for over two years. Where a change in the...
The Construction Industry Scheme (CIS) VAT reverse charge will come into force on 1st March 2021. The CIS VAT reverse charge was due to commence in October 2019, but this was delayed twice, firstly as a result of Brexit and then the outbreak of COVID-19. The construction industry reversed charge will apply to supplies of construction work in the UK. When the reverse charge applies...
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