I have just had an email from one of our Customers regarding
'VAT: domestic reverse charge for building and construction services'. This is the first I have heard of it so have it so clearly have a bit of reading to do, but one of the bits i have read so far says 'making sure your accounting systems and software are updated to deal with the reverse charge'.
So does Solar accounts cater for this and do you have any information about it? Thanks.
Hi Kim,
Solar Accounts can handle reverse charge for EU transactions, but not yet
for domestic transactions as will be required for construction industry
charges from 1 October. We are working on an update to allow domestic
reverse charge which we hope to release in the next few weeks - I'll let
you know when it's available.
Hi Kim,
Just to let you know that the latest version of Solar Accounts allows you
to record the domestic reverse charge: In the transaction window click More
Options > VAT Treatment > More VAT Details > Customer Pays VAT Directly to
HMRC. (Note also that HMRC have postponed this requirement for
construction industry until October 2020)