Reverse Charge VAT is due to come in to effect on 1st October 2020. BCSA is concerned that reverse charge VAT will have a significant negative economic impact on the industry and will substantially increase the burden on business significantly reduce cashflow – not just in the short term but as a perpetual effect.
BCSA has therefore written to the Chancellor explaining the industry’s concerns and asking him to withdraw the implementation of this unfair change to the tax system. This AMM includes a copy of the letter that BCSA sent to the Chancellor. BCSA are also joint signatories to a joint UK construction industry letter to the Chancellor which will be sent on Monday 25th May. A press release will also be sent to The Times.
Dr David Moore