FIS has compiled a questionnaire to support a consolidated construction response to the latest HMRC consultation on the Construction Industry Scheme (CIS).
It considers whether it would be appropriate to add VAT to the list of taxes HMRC must consider when undertaking the statutory compliance test for receiving or keeping Gross Payment Status (GPS). It seeks views on how adding VAT could be given effect and the consequences for those affected.
In addition, the consultation sets out two areas where stakeholders have told HMRC that the operation of the CIS is causing unnecessary administrative burdens: landlord/tenant payments; and multiple reporting requirements by some groups. It seeks views on the scope and impact of those burdens, and the government’s proposals for removing or reducing them.
FIS members can access the June edition of JTC Newsline. This issue looks at the advisory fuel rates from 1st June 2023; the change in the self-assessment threshold and further details on the construction industry scheme consultation.