Submitted on Wednesday 3rd February 2021
Rejected on Tuesday 9th February 2021
Current status: Rejected
Rejection code: duplicate (see below for details)
Delay the introduction of Reverse Charge VAT until after the pandemic.
Debate the release date and postpone it until after the pandemic. My contractor customers can take anything from 30-90 days to pay me. Reverse Charge VAT will have a seriously negative impact on cash flow which small businesses can ill afford in the current economic climate and pandemic.
HMRC believe £100m of revenue is lost each year as a result of missing-trader fraud, where construction businesses charge VAT to their customers and then disappear before paying it over to HMRC.
Honest traders are being penalised for doing the right thing at a time when money is tight. The VAT Reverse Charge is onerous. HMRC recognises that cash flow will be impacted and have delayed it once but the pandemic and lockdowns are lasting longer than we thought they would. Postpone it again please.
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The Government e-Petitions Team gave the following reason:
There's already a petition about this issue. We cannot accept a new petition when we already have one about a very similar issue.
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petition.parliament.uk/petitions/568767
3.16.128.248 Thu, 30 May 2024 20:44:20 +0100
