The Construction Industry Scheme (CIS) represents a difficult administrative burden for businesses involved in construction.
Contractors commonly recognise that their transactions come within the scope of CIS, however navigating the complex rules can be challenging and punitive penalties can be imposed where certain issues have been overlooked.
Errors commonly occur in the following areas:
- Deciding whether the nature of the work brings it within the scope of CIS.
- Deducting tax at the right rate.
- Own construction work.
- Payments of expenses.
We have assisted many businesses in dealing with the fallout from an HMRC CIS visit and protecting them from extreme tax payments and penalties charged for honest mistakes.
If you are unsure if your business is implementing CIS and would like an expert opinion, we are also happy to carry out ‘cold reviews’ to ensure that your compliance obligations are met.
If you have had an inspection and HMRC want to charge penalties, we can definitely help.