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Issue:
4939
/
Categories:
Comment & Analysis
, construction industry scheme
, PAYE
, Land & property
CIS changes: golden opportunity missed
From 6 April 2024 various changes to the construction industry scheme (CIS) became effective. These changes broadly relate to strengthening the requirements for gross payment status and excluding many landlord to tenant payments from the scope of the CIS.
The changes to the CIS were implemented through a combination of:
- section 35 of FA 2024 (which received royal assent on 22 February 2024) which amended s 66 and Sch 11 of FA 2004; and
- the Income Tax (Construction Industry Scheme) (Amendment) Regulations SI 2024/308 (which were made on 5 March 2024) (the CIS Amendment Regulations 2024) which amended the Income Tax (Construction Industry Scheme) Regulations SI 2005/2045 (the CIS Regulations 2005).
Gross payment status
Since 6 April 2024 gross payment status for the purposes of the CIS may be cancelled on the grounds of fraud in relation to PAYE corporation tax or income tax self-assessment...
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