Displaying 1-19 of 19 results
Contractors reminded to verify subcontractors
- Article
- 05 Aug 2024
- ICAEW Insights
HMRC is writing to contractors and asking them to regularly verify the construction industry scheme (CIS) status of their subcontractors.
CIS payment deduction statements must be requested by post
- Article
- 09 Jul 2024
- ICAEW Insights
It is no longer possible for subcontractors under the construction industry scheme (CIS) to request payment deduction statements from HMRC’s CIS helpline. The request must be made by post.
Tax news in brief 10 April 2024
- Article
- 09 Apr 2024
Highlights from the broader tax news for the week ending 10 April 2024, including: advance notification of disruption to HMRC services; advice for large businesses on contacting HMRC; and updated HMRC guidance on the process for claiming in-year refunds of CIS deductions.
Exclusive
Construction industry scheme continues to grow
- Article
- 04 Apr 2024
- Howard Royse ACA
HMRC data suggests there has been a significant increase in construction industry scheme receipts. Howard Royse looks at the reasons why and considers the future of the scheme.
Tax news in brief 13 March 2024
- Article
- 12 Mar 2024
Highlights from the broader tax news for the week ending 13 March 2024, including: the publication of legislation providing for the Spring Budget NIC cuts; changes made by secondary legislation across a range of areas, including R&D tax relief, PAYE and CIS; new HMRC guidance on ISAs; and the opportunity to claim a refund for Italian VAT paid on goods and services related to Italian business activities.
CIS gross payment compliance tests to be strengthened
- Article
- 22 Nov 2023
- ICAEW
The Chancellor has confirmed that VAT compliance will be considered for obtaining and retaining gross payment status. Cancellation of gross payment status on grounds of fraud will also be expanded.
Construction industry scheme: drop VAT compliance test, says ICAEW
- Article
- 11 Jul 2023
- ICAEW
ICAEW’s Tax Faculty considers the proposed construction industry scheme (CIS) gross payment status (GPS) VAT compliance test is unlikely to deter organised criminal groups and should be dropped.
ICAEW REP 065/23 Construction industry scheme reform
- Representation
- 10 Jul 2023
- PDF (250kb)
A representation dated 10 July 2023 to a consultation published by HMRC on 27 April 2023.
Exclusive
Construction Industry Scheme
- Helpsheets and support
- 04 Oct 2022
- Markel Tax
FAQ on whether CIS deductions be applicable on boiler installation work, carried out by a sub-contractor for a plumbing company.
Simplify late payment penalties and defer CIS changes, says ICAEW
- Article
- 20 Apr 2021
The new penalty regime for the late payment of income tax and VAT is “overly complex” and needs to be simplified, according to the Tax Faculty’s response to the Finance Bill. It’s also recommending the deferral of changes to the construction industry scheme.
ICAEW REP 38/21 Finance (No.2) Bill 2019-21 - Construction Industry Scheme
- Representation
- 20 Apr 2021
- PDF (192kb)
Briefing submitted to MPs on 12 April 2021 on Finance (No.2) Bill 2019-21 published by government on 11 March 2021 on clause 30 and schedule 6 which relates to changes to the Construction Industry Scheme.
Construction Industry Scheme VAT reverse charge
- Webinar
- 03 Feb 2021
In this webinar, Neil Warren, Independent VAT speaker, author and consultant explains the new rules on VAT domestic reverse charge for construction services and how it will affect your clients.
Exclusive
Tackling abuse of the construction industry scheme
- Article
- 01 Feb 2021
- Howard Royse
Howard Royse provides an update on HMRC’s March 2020 consultation on construction industry scheme abuse. He also goes in detail through ICAEW’s response to the document.
Delayed CIS VAT reverse charge takes effect on 1 March
- Article
- 26 Jan 2021
26 January 2021: After several delays HMRC’s VAT domestic reverse charge for construction services is due to come into force on 1 March 2021. ICAEW’s Tax Faculty provides a reminder of the changes.
Guidance on CIS changes needed now, says ICAEW
- Article
- 11 Jan 2021
8 January 2021: HMRC needs to publish draft regulations and guidance detailing forthcoming changes to the construction industry scheme or consider pushing back implementation until 2022, according to ICAEW.
ICAEW REP 05/21 - Construction industry scheme - draft finance bill 2021
- Representation
- 07 Jan 2021
- PDF (191kb)
In this response to HMRC's consultation, 'Changes to tackle construction industry abuse draft Finance Bill 2021 legislation', ICAEW's Tax Faculty has urged the government to publish draft secondary legislation, guidance and IT specifications as soon as possible, or consider delaying changes to the CIS.
Exclusive
Off-payroll working
- Webinar
- 24 Nov 2020
In this webinar we unpick the finalised legislation in FA 2020, and HMRC’s latest guidance.
ICAEW REP 57/20 Tackling construction industry scheme abuse
- Representation
- 27 Aug 2020
- PDF (226kb)
A response dated 27 August 2020 to a consultation published by HMRC on 19 March 2020.
Tax and the construction industry
- Article
- 31 Jul 2020
- Tim Palmer and Mark Rubinson
The construction sector is again under the spotlight. Tim Palmer and Mark Rubinson of Arram Berlyn Gardner review in depth the forthcoming tax changes. They look at the basics of the construction industry scheme, how the changes affect contractors and subcontractors, and illustrate their points using three examples.
Displaying 1-19 of 19 results
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