Reverse Charge VAT Legislation

Reverse Charge VAT Legislation

Jan 20, 2021 | Features

Reverse Charge VAT legislation is due to come into effect on the 1st March 2021 and we need to upgrade your Elite Contract Costing software to a compliant version.

If you have custom sales or subcontractor layouts these will need to be amended as part of the upgrade to make them compliant with the new legislation. Further information about Reverse Charge VAT, along with a list of the affected report layouts and impact on your accounts software, can be found in the attached document.

This software upgrade is provided free of charge as part of your annual support contract, however, the time to install the upgrade and to amend your report layouts is chargeable. The cost of this will vary depending on the version of Elite Contract Costing you are currently on and the number of report layouts that need to be amended. This will be charged on a time basis and, for those with pre-paid plans, it can be deducted from your flexi-plan.

Please contact us to schedule your upgrade.

Related Articles

2021 – The Story So Far

Despite the many challenges that came with the Covid-19 pandemic in 2020, TMS saw an unprecedented increase in new customers moving over to our flagship Contract Costing software.

Never Lose a Purchase Invoice Again

TMS are proud to announce the release of their Office 365 automated purchase invoice mailbox module. This allows anyone with Office 365 to setup a mailbox to receive purchase invoices from their suppliers and these will go straight into the purchase invoice register...

Are you ready for Brexit?

The UK is leaving the EU single market and customs union at the end of the transition period on the 1st January 2021. Brexit will have implications for all UK businesses who trade with companies outside of the UK. If you import or export with companies outside the UK,...