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Reverse VAT – Be Prepared

BCSA has previously provided members with information about reverse VAT which comes into effect on 1 October 2019.

This will affect all members that are Construction Industry Scheme (CIS) registered or who work for CIS registered companies. You will need to change your accounting and invoicing processes accordingly and examine the effect on your cash flow carefully.

It is extremely likely that reverse VAT will have a negative effect on cashflow for sub-contractors.

This memo:

  • Provides a reverse VAT checklist
  • Attaches a flow chart to show the changes to VAT
  • Includes a form letter for subcontractors
  • Has a spreadsheet that members can use to calculate the change in cash flow
  • Provides details of a reverse VAT seminar for BCSA members

 

Sarah McCann-Bartlett
Director General

Tel:  020 7747 8127
Mobile:  07515 574 551
Email:  sarah.mccann-bartlett@steelconstruction.org