.png)
.png)
MIKE EVANS offers an insight into the new CIS penalty structure and what affected businesses might do now to avoid paying excessive sanctions
KEY POINTS
- A review of the construction industry scheme.
- The new penalties in FA 2009 Sch 55.
- The penalty capping regime.
- Who falls within the definition of a contractor?
- Are all your builders properly CIS registered?
The first construction industry tax deduction scheme was created nearly 40 years ago in 1972 to deal with the potential loss of duties considered to be at risk from non-UK self-employed workers who were coming to the UK as the construction industry expanded and there were skill shortages.
After various permutations the present scheme was introduced on Good Friday 6 April 2007.
The current scheme like its two predecessor schemes is another ‘tax deduction scheme’ and as with its antecedents it is designed to prevent self-employed subcontractors – whether foreign or...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
