The rules for charging (and reclaiming) VAT in the construction industry are complex, and mistakes, no matter how innocent, can be very expensive. It is vital that accounting staff at a construction firm have a good understanding of how to determine the correct VAT treatment of the goods and services that they supply. On the expenditure side there are specific restrictions on input VAT recovery for certain purchases, and also the Construction Industry Reverse Charge to administer.
This course will teach you how to determine the correct liability of income from construction operations, when VAT can (and cannot) be recovered, and how to administer the Construction Industry Reverse Charge.