Tax & the Construction Industry Scheme - A Practical Guide to Compliance

Introduction

The Construction Industry Scheme (CIS) can be in point in many circumstances and getting it wrong can lead to substantial liabilities (and in some cases unexpected liabilities).

It is essential for businesses operating within the construction sector, as well as the professional advisors who assist their clients, to be fully versed with the CIS and when and how it might apply to their or their client’s business.

This virtual classroom session is designed to give you the necessary information to enable you to apply the rules as accurately as possible.

Compliance with the CIS has become even more important given the introduction of the VAT Domestic Reverse Charge.

What You Will Learn

This live and interactive session will cover the following:

• Introduction to the CIS
• When does it apply?
• The terms ‘construction operations’ and ‘structures’
• Territorial limits
• The scope of the CIS
• Construction contracts
• Contractors and subcontractors
• Contractors and registration requirements
• Who is a ‘mainstream’ contractor?
• Who is a ‘deemed’ contractor?
• Property investors
• Property developers
• Once registered as a contractor
• Subcontractors and registration requirements
• Professional and consultants
• Terminology
• Construction operations
• What are construction operations?
• What are not construction operations?
• Additional information/guidance
• VAT Domestic Reverse Charge (DRC)
• When does DRC apply?
• When does DRC not apply?
• Materials charges
• What does legislation say?
• What does this mean?
• Plant & machinery
• HMRC interest
• Exceptions
• The mechanics
• Payment classifications
• Payments under the CIS
• Statutory returns
• Penalty regime
• Changes introduced from April 2024:
• Payments from Landlords to Tenants
• Introduction of VAT into the compliance test
• Removal of applications for Gross Payment Status by telephone

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.