Next March, the VAT domestic reverse charge turns three, and problems are beginning to emerge. These can be traced to fumbles with the exceptions to the DRC: the corners HMRC cut by pegging the DRC to the construction industry scheme; and the diversion it took to make end user status optional, rather than mandatory. The misunderstandings these created will continue to be an issue for practitioners, and changes from April 2024, announced in the 2023 Autumn Statement, will only make matters worse.
If you are not a subscriber, subscribe now to read this content.
Next March, the VAT domestic reverse charge turns three, and problems are beginning to emerge. These can be traced to fumbles with the exceptions to the DRC: the corners HMRC cut by pegging the DRC to the construction industry scheme; and the diversion it took to make end user status optional, rather than mandatory. The misunderstandings these created will continue to be an issue for practitioners, and changes from April 2024, announced in the 2023 Autumn Statement, will only make matters worse.
If you are not a subscriber, subscribe now to read this content.
3cc55f2a-f8bf-4727-a670-dd46c10637aa.jpg?sfvrsn=d6065964_1)
.tmb-editorspic.jpg?sfvrsn=df04ab27_1)
