Supply Chain Transparency

In this industry we are used to working within complex and ever-changing supply chains, making it difficult for us to have full transparency of compliance throughout. Whilst we may know that we ourselves are not operating Modern Slavery, committing VAT Fraud or employing Illegal workers, can we be sure that this is the case throughout our various chains?

With the upcoming VAT reverse charge changes, HMRC are actively investigating firms that may have been associated with fraudulent tax losses and many construction firms have received similar correspondence in recent weeks:

Receiving such a letter and the prospect of HMRC investigation is not to be taken lightly. The value of this fraud being investigated is substantial and we know it is not a one-off example, with HMRC reserving the right to impose 'unlimited fines' upon those found guilty of facilitating tax fraud. We recommend that you conduct regular checks on the integrity and compliance of your supply chain to safeguard your company from the fraudulent activity of others.

As the service we provide you with does not fall into the Reverse Charge VAT scheme you can be safe in the knowledge that no VAT fraud could occur, whilst also benefiting from 20% less to pay on our invoices, positively impacting your cash flow.

 

If you need help in ensuring you are not at risk, please email:

 

compliance@sbcontracting.co.uk 
 

where our expert team are ready to help, or check this guide showing the steps you can take to know you are operating in a clean and transparent supply chain.

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