The Chartered Institute of Building (CIOB) has welcomed the government's announcement that the start of the 'reverse charge' rule for VAT payments for construction services will be pushed back from October 2020 to March 2021.
The move came in response to calls from the industry not to impose the changes while it was grappling with the consequences of the coronavirus pandemic.
The announcement comes off the back from a recommendation made by the Construction Leadership Council's ‘Roadmap to Recovery’, which the CIOB feeds into. The 'reverse charge' rule has already been delayed once in the face of evidence from industry and professional bodies that many of their members were unaware of or unprepared for the rule change.
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