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Revision time
Key points
- The new reverse charge rules took effect on 1 March 2021 for many supplies of construction services.
- Construction industry personnel were apprehensive about the new rules because of subtle layers of complexity included in the legislation that made some transactions seem overly complicated.
- Practitioners also expressed concern at the introduction of the rules but they have worked well.
- Subcontractors should accept what the contractor says about end user status.
- The 5% disregard calculation applies to the value of the contract and not an invoice-by-invoice basis.
Two years pass very quickly. It seems only five minutes ago when accountants and finance directors were jumping up and down with as much excitement as a pensioner winning a leg of lamb in a meat raffle about the potential horrors of the new reverse charge rules that took effect on 1 March 2021 for many supplies of construction services. But the legislation was introduced – despite...
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