As you are aware, new rules will be coming into effect on 1st March this year regarding VAT, and is known as the VAT reverse charge.
We know that some of our clients will be affected by these rules, and we have measures in place already to support our clients when using TEAMS.
Before the March deadline, we will be adding additional quote and invoice type options to the TEAMS system. These will appear on your TEAMS system as drop down options, and you will just need to select the relevant quote or invoice type as normal. The quote or invoice can then be processed in exactly the same way as quotes and invoices are now.
Further information can be found at https://www.gov.uk/guidance/vat-domestic-reverse-charge-for-building-and-construction-services