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. […]

Quarterly VAT reporting using the new system will be mandatory from 2019. In a further U-turn, three million small businesses and buy to let landlords below the VAT threshold will now not be required to keep digital accounting records but will be able to move to the new system for keeping tax records at a […]