CIS

RF Farrow (TC4241)

How to challenge fines for late submission of PAYE and CIS returns

G Laithwaite (TC3879)

C M Oddy t/a CMO Bird Proofing Specialists (TC3796)

Condoc proposes simpler approach for smaller contractors

Late PAYE payments will incur in-year interest charges for the first time, HMRC have warned following last month’s introduction of a regime that replaces annual levies.

Firms that want to avoid the new-style charges, which also apply to the construction industry scheme, should settle with the Revenue by the due date – 19th or 22nd of the month – the difference between what they report on their full payment submission (FPS) together with CIS charges for the tax month, and the deductions reported on an employer payment submission (EPS).

HMRC have refined the way they handle construction industry scheme (CIS) repayments, following work by joint initiative on the tax authority’s service delivery.

The Revenue aims to process CIS repayment claims within 25 working days or less from the date of receipt, provided the information sent – by mail or online – matches that held by the department.

Part repayments will be made based on verified amounts while mismatches are discussed with the taxpayer company

The practice of Construction Industry Training Board (CITB) levy deduction will no longer be supported by HMRC, the department has announced.

The CITB is responsible for promoting vocational training in the construction industry. It can impose a charge on employers or contractors to fund its operations.

Many contractors recoup the fee from subcontractors in the form of a deduction made from the “gross amount of payment” shown on monthly returns.

It’s April 2016. The construction industry scheme was abolished two years ago...

The Revenue has published ten tips to help companies get their construction industry scheme (CIS) repayment claims right first time.

The department suggests that taxpayers use the advice (below) as a checklist to ensure they have covered all aspects before sending a claim to HMRC at PAYE Employer Office, Room BP4009, Benton Park View, Newcastle upon Tyne NE98 1ZZ.