Summary
Description
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Legislation
What is CIS Domestic Reverse charge?Do we have to register for CIS Reverse charge VAT?
What happens if the subcontractor is not VAT registered?
What happens if the contractor is not VAT registered?
Are there any minimum thresholds before we have to comply?
When do the CIS Reverse VAT charge obligations start?
What about projects that cross over the 1st March 2021?
Considerations
Processing
How will this work in Sage 50 Accounts including what tax codes to use?
Do I need the CIS module in Sage 50 Accounts for Domestic Reverse Charge?
How will this work in Sage 200 including what tax codes to use?
Will CIS deductions still be made on invoices raised?
How do you determine which supplies come under the scheme?
What about zero rated VAT on new builds?
CIS Reverse Charge messages don't appear on standard layouts
How do I post subcontractor CIS transactions?
Materials / Goods
As a contractor, should our materials suppliers still charge VAT to us with the reverse charge?