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Frequent Contributor *

CIS UK reverse Charge

The new domestic (UK) reverse charge for CIS sub contractor invoices comes into effect October 2019. Will QBO be introducing a new VAT code for domestic use? There is only an EU RC code at the moment.

Can anyone advise please?

Btw, the 'help' article that comes up as a link is blank on my screen, although it says it was last updated in July.

Solved
Best answer 08-08-2019

Accepted Solutions
QuickBooks Team

Re: CIS UK reverse Charge


Hi AB111

 

QuickBooks will be implementing a new VAT code in the near future to accommodate the reverse charge relating to CIS however we do not have an exact date but it will be before October

16 REPLIES 16
QuickBooks Team

Re: CIS UK reverse Charge


Hi AB111

 

QuickBooks will be implementing a new VAT code in the near future to accommodate the reverse charge relating to CIS however we do not have an exact date but it will be before October

Frequent Contributor *

Re: CIS UK reverse Charge

Excellent thank you John!

Not applicable

Re: CIS UK reverse Charge

Will the new vat code for CIS reverse charge be available as an update and how will we be made aware that it is available

QuickBooks Team

Re: CIS UK reverse Charge

Hello ARCS

 

There will be an update in the product to add the new VAT code and we will be emailing a communication out to all customers who have the preferences for email communications turned on.

 

Thanks

 

Emma

 

 

Not applicable

Re: CIS UK reverse Charge

Is this new code available yet. My client needs to sell services as a cis contractor and I need to advise him

Moderator

Re: CIS UK reverse Charge

Hi there, carolelmcarre.

 

The reverse charge code will be available in QuickBooks Online (QBO) on October 1, 2019.

 

You can check out this article for more information : VAT: Domestic Reverse Charge for Building and Construction Services.

 

As what my peer mentioned, an email will be sent out to all customers for updates.

 

Don't worry, I'll also notify you in this thread if the code becomes available. 

 

Let me know if you have any follow-ups or other questions. I'd be happy to help. Have a great day ahead.

Community Contributor *

Re: CIS UK reverse Charge

Hi,  How do I know if I have the preference for email communication turned on please.  I am glad QB are doing something about the reverse VAT charge.  Thanks.  

Anonymous
Not applicable

Re: CIS UK reverse Charge

I'm also happy about the reverse charge announcement, @dkkgroundwork.

 

Let me help show you how you'll get notified about the update.

 

As long as your email address is verified in your Account and Settings page, you will be notified by Intuit regarding the domestic reverse charge. Here's how to verify:

 

  1. Sign in to your account and click the Gear Icon.
  2. Select Account and Settings.
  3. Go to Communications with Intuit and click the Marketing Preferences link.
  4. Verify the email address used when receiving promotional automated messages.

account.PNG

You can also receive updates through phone or SMS by clicking the Communications option.

 

That should do it. Should you need other references you can use in the future, you may also check this helpful article: Configure Accounts and Setting.

 

I'll be around if you have other questions about the reverse charge. I want to help however I can, Have a good one.

Not applicable

Re: CIS UK reverse Charge

Thank you for the reply - but I am using the desk top version of QB not the online version - how do I find out in my system

QuickBooks Team

Re: CIS UK reverse Charge

Hi ARCS,

Similarly to QBO, we will be facilitating a way to create a code to use in QuickBooks Desktop for the new domestic (UK) reverse charge for CIS before this comes into effect on the 1st of October.



 

Community Contributor *

Re: CIS UK reverse Charge

Thanks for the info. I also at the moment use cash basis accounting and from what I have read this cant be used for the reverse charge. Will Quickbooks have a way to deal with this? Thanks. 

QuickBooks Team

Re: CIS UK reverse Charge

Hi dkkgroundwork,

 

for more details HMRC's outlines on the compatibility of the CIS reverse charge and a cash basis of accounting please follow this link, and select the 'Cash accounting scheme' title.

https://www.gov.uk/guidance/vat-domestic-reverse-charge-for-building-and-construction-services#overv...

 

Thanks!

Community Contributor *

Re: CIS UK reverse Charge

Will quickbooks be equipping the reverse vat code to be able to use with cash accounting so that it shows correctly in the vat return and has correct tax point. Thanks. 

QuickBooks Team

Re: CIS UK reverse Charge

Hi Dkkgroundwork,

There will will be a way to create a code in QuickBooks desktop which hits all of the required VAT 100 boxes for the CIS reverse charge VAT code. With regards the software and it's workings, this will be the case on both a cash based and an accrual based VAT recording method.

However, for more advise on whether or not the new Reverse charge CIS vat code should be implemented on cash VAT, please see the following link.

 

https://www.gov.uk/guidance/vat-domestic-reverse-charge-for-building-and-construction-services#overv...

Thanks!

Community Contributor *

Re: CIS UK reverse Charge

Thanks for your reply. I notice from the link you sent HMRC have in the last few days decided to delay the implementation for another year due to Brexit and business not being ready. 

QuickBooks Team

Re: CIS UK reverse Charge

Hi Dkkgroundwork,

 

Thanks for posting back. You are indeed correct, it would appear that the deadline has been extended until 01.10.2020, as per the link.

https://www.gov.uk/guidance/vat-domestic-reverse-charge-for-building-and-construction-services#overv...

Thanks,

Chris.