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The Domestic Reverse Charge (DRC) is an anti-fraud measure which essentially shifts the responsibility to account for VAT to the recipient of the construction services, rather than the supplier. The DRC applies to construction services which fall within the Construction Industry Scheme. Certain supplies are excluded from the DRC, namely supplies to intermediaries and end users.
The scheme will impact on invoicing processes, contracts, software and cash flow.
Jane Stacey, VAT Director and Naomi Quant, Assistant VAT Manager can help you should you require advice on DRC or other VAT matters. Jane and Naomi have considerable experience of advising clients in the real estate which includes property investment, development, and construction.
Our VAT and Indirect Taxes team is here to provide you with advice on how your business should address VAT. Whether you are a small business trying to develop, or a large-scale business, we can creatively resolve any of the inevitable issues that will arise from time to time.
Please click here to view the recording from our VAT and Construction webinar hosted on 11 February 2021.
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