One in 10 SMEs ‘won’t be able to pay bills' after VAT change

More than one in 10 SMEs in the construction industry supply chain say their cash flow will not be able to cope with controversial changes to the way VAT is collected, according to major new research carried out by Hudson Contract. The domestic reverse charge comes into effect on October 1 and means those at […]

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Industry bodies write to Government to express "serious concerns" over revers VAT charges

SNIPEF has joined 15 other UK construction bodies in writing to the Government to share serious concerns regarding the implementation of reverse VAT charges which are due to take place on 1st October, and have called for a delay in implementing the new rules. If introduced, reverse charge VAT will have a significant negative impact […]

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APHC is highlighting major forthcoming changes to VAT accounting

There are major changes coming from HMRC that will affect VAT registered businesses with a turnover above the £85,000 threshold. ‘Making Tax Digital’ for VAT is going to mean that from 1 April 2019 around 1 million businesses will need to submit VAT Returns through compatible software and keep digital records. VAT is the first […]

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New campaign launched to scrap VAT on safety products and services

A high-profile campaign has been launched which calls on the Government to abolish VAT on all safety products and services that go into UK homes. Currently there’s a 20% tax on a range of products including fire alarms, carbon monoxide detectors, gas safety checks, fire doors and fire extinguishers, and campaigners want that scrapped. An online […]

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7 things installers need to know about dealing with VAT

There are many challenges for installers outside of just knowing how to do the job. Benjamin Dyer, the CEO and co-founder of Powered Now, looks at one of them – dealing with VAT. VAT stands for ‘Value Added Tax’, and all VAT-registered installers have to add it to their sales invoices. For example, an installer […]

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