Main News Feed Archives - Page 83 of 213

VAT Deferral New Payment Scheme

by Oscar Venus | 15 Apr, 2021 | Main News Feed

Companies that deferred VAT payments between 20 March and 30 June 2020 and have monies outstanding need to take action and join the VAT deferral new payment scheme by 21 June 2021. Those who do not join the scheme or settle the account before 30th June could be charged a 5 per cent penalty or interest on what they owe.

If businesses join by 21 April, they will pay their deferred VAT in 10 instalments, rather than nine or eight instalments if they wait until closer to the deadline. To join the scheme, a company must have:

a Government Gateway account
submitted any outstanding VAT returns from the last four years and corrected any errors on existing returns
calculated how much it owes, including the amount originally deferred and how much has already been paid.

Companies must pay the first instalment upon joining the scheme and make subsequent payments via Direct Debit.

For more information on the VAT Deferral Payment Scheme, click here

You can access the FIS Business and Taxation Toolkit here

Safety Alert: On site storage

by Oscar Venus | 15 Apr, 2021 | Building Safety Act, Insurance, Main News Feed

If loading out a site and in wake of shortages and potentially taking larger orders of product than would ordinarily be the case, remember to check insurance implications and to survey the area carefully to ensure that any loading limitations on the floor/storage area are adhered to and have factored in risk to protect from environmental (cleanliness, humidity or temperature issues), stacking (adherence to storage instructions) or construction related damage. Also pay particular attention to safety factors that may arise if product is not stacked in accordance with manufacturers instructions and H&S best practice (e.g. leaning/stacking of boards). FIS Site Guides are free to download for members and include some helpful reminders on storage issues.

FIS Launch Digital Spine to help companies chart their digital journey

by Oscar Venus | 9 Apr, 2021 | Main News Feed, Technical, Transformation

Ahead of the next Digital Construction Working Group (28 April 10am), FIS has launched a new tool to help members to follow and understand the technologies that are shaping the present and future of construction.

Expressions like Industry 4.0’, the fourth industrial revolution, the Digital Revolution are bandied around and the Construction Playbook isolates the need to “develop new solutions including improved digital capabilities.” but what does the digitalisation of the finishes and interiors sector actually mean to projects and businesses in the supply chain?

FIS CEO Iain McIlwee commented “The Digital Spine was born at a Round Table we hosted with key experts from our sector. We looked at where digital is having influence and what is holding us back. A key concern was that behind all of these digital solutions is whole new language that we are struggling to get to grips with. The roundtable also isolated that the environment can be bewildering with solution not always matched to problem and real concerns over interoperability of all of the rapidly expanding range of tools at our disposal. Taking a step back we decided that the best way to help was to create the Digital Spine, a simple outline of the language behind the technology that is evolving to support the FIS community, but vitally also to contextualise tools against the core areas of business operation where they have the potential to support change. We are grateful to all the members who have supported the development to this point and encourage all users to bombard us with questions and omissions to support development from here”.

Mark Norton Group BIM Director, ISG added “The Digital Spine is great because it is simple and the key to innovation is to keep it simple and align it to genuine problems, not get caught-up in the technology. We recognise that this is a start and the tool will evolve with questions and as new innovation emerges. We’ll be reviewing at the Digital Construction Working Group on the 28 April and starting to look at where the biggest impact is and how we can ensure the FIS community is aware of opportunity, alert to the challenges and vitally too has influence in the way that some of these tools are emerging to support standardisation.”

The Digital Spine is available here.
You can reserve your place at the FIS Digital Construction Working Group here.

New COVID Recovery Loan Scheme Launches

by Iain McIlwee | 8 Apr, 2021 | Main News Feed

A new government-backed loan scheme was launched on Tuesday 6 April by the Chancellor of the Exchequer, to provide additional finance to those businesses that need it.

Loans will include 80% government guarantee and interest rate cap.
The Recovery Loan Scheme will ensure businesses continue to benefit from Government-guaranteed finance throughout 2021-opened until 31 December 2021.
The Recovery Loan Scheme can be used as an additional loan on top of support received from the emergency schemes – such as the Bounce Back Loan Scheme and Coronavirus Business Interruption Loan Scheme – put into place last year.
From 6 April, businesses – ranging from coffee shops, and restaurants, to hairdressers and gyms – can access loans varying in size from £25,000, up to a maximum of £10 million. Invoice and asset finance is available from £1,000.

You can read the Chancellor of the Exchequer’s statement in full here.

For more information on what other financial support you can get for your business, click here
For the latest COVID updates visit the FIS COVID-19 Hub here

Competitions and Markets Authority Construction Warning

by Oscar Venus | 8 Apr, 2021 | Main News Feed

Following the news that two more construction directors have been disqualified for forming an illegal cartel, the Competition and Markets Authority (CMA) has issued an open reminder to the construction sector about its guidance on competition law and the significant risks of non‐compliance.

The case involved FP McCann Ltd, along with 2 other suppliers of pre-cast concrete drainage products – Stanton Bonna Concrete Ltd and CPM Group Ltd. This brings the total number of disqualified directors to 25 and follows rapidly from the announcement of three Directors being disqualified for links to a cartel in the rolled lead sector and similar issues identified in 2019 in the Fit-out sector.

The FIS Business/Taxation Toolkit includes additional advice and support for members on managing competition law requirements.

CLC Call to Complete the People Survey

by Oscar Venus | 8 Apr, 2021 | Main News Feed, Market data

The latest CLC People Survey is now live! Build UK is responsible for collating the results and we would be extremely grateful if all members could find 10 minutes to complete the online survey to help us measure the impact of coronavirus on the construction workforce one year on.

The deadline for responses is Friday 16 April and the results will help us to prioritise support for the sector.