| | CIS Reverse charge VAT - How is retention treated when a contract finishes before 1 March 2021, but the defects period ends after that and payment is received after? |
| Resolution | The tax point for the retention element of the contract is delayed until payment is received or a VAT invoice has been issued for it (whichever is earlier). Reverse charge would apply in this scenario as the payment/invoice point is post 1 March 2021. More information > [BCB:90:CIS - Sales:ECB] |
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