Reverse vat charge 1st March

Feb 5, 2021 | Business, Tax

From 1st March all vat registered CIS registered companies will be paid net of VAT by their contractors. The vat will be shown as withheld on the invoice. This will have an immediate impact on cashflow but with a VAT rebate likely due, the cashflow should be the same over a quarter. Some larger companies may consider monthly VAT returns if this is a concern.

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