Don't get caught out, Reverse Charge VAT is coming...
There are major changes to the way VAT is collected in the building and construction industry coming into effect on 1st March 2021
If you are not prepared, there could be serious consequences for your business. The reverse charge will affect building and construction services provided at the standard or reduced rates of VAT that also need to be reported under CIS. There are types of work that are unaffected by the legislative changes. To find out more about Reverse Charge VAT in Pegasus CIS & Opera 3, download the datasheet here.
Opera 3 users who are affected by these legislative changes will also need to ensure their Opera system is compliant, even if they do not use Pegasus CIS. The functionality is already available in the software so please make sure you talk to us about options for training on the system configuration.
- The Profile Team