Government agrees to delay VAT change “chaos”

Posted by Hazel Duhy on in Sector Group News, Construction, Manufacturing and Nuclear New Build, UK News.

The government has agreed a one-year delay to VAT changes threatening a cash-flow crisis across construction.

More than 150,000 construction companies were facing a 20% drop in cash flow when planned VAT changes came into force next month.

But now HMRC has agreed to delay implementation of the “domestic reverse charge” until October 1 2020.

Read Construction Enquirer's full article here