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VAT domestic reverse charge for construction services: where are we now?

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The domestic reverse charge for building and construction services (DRC) comes into force on 1 October 2020. It represents a fundamental change to the way in which VAT will be accounted for in the construction sector and is likely to have a major impact on cashflow and working capital in the sector. The DRC will be introduced without a transitional period, and HMRC has therefore delayed its implementation for a year from the intended implementation date of 1 October 2019 to ensure that taxpayers are aware of the change and have developed plans to manage its potential impact.
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