11 July 2019
Tax Guidance for Build UK Members – July 2019
Members can access the Construction Industry Joint Taxation Committee’s (JTC) monthly tax guidance newsletter as a key benefit of Build UK membership.
Members often register the difficulties they face in complying with changes to taxation rules and regulations and can now access the JTC newsletter which is publicised monthly on the Build UK website and includes guidance on challenging issues and direct responses to taxation queries.
The July edition includes:
Imminent introduction of Reverse VAT
The JTC Newsline includes information on what you should be doing to get ready for when Reverse VAT comes in on 1 October, as well as a flowchart to help decide whether to reverse charge VAT or send out an ordinary VAT invoice.
Build UK is currently working on further guidance and consulting with members on the impact Reverse VAT will have. Input and feedback on the potential impact this will have on businesses is welcomed from all members via membership@builduk.org.
Making Tax Digital
HMRC have announced that a small number of businesses that pay their VAT by direct debit and have signed up to Making Tax Digital (MTD) have not had their last non-MTD payment collected. If your business has not had its payment collected by this date, you should contact the VAT helpline.
Tax-free Childcare
HMRC are currently running a campaign to remind people that they could get up to £2,000 per child, per year, towards childcare costs.
The full newsletter can be viewed here. If you have a query relating to items in the newsletter, please contact Liz Bridge.