by MAS | Sep 29, 2026 | Business advice, CIS, Construction services, HMRC
HMRC is writing to Construction Industry Scheme (CIS) contractors where it believes the wrong deduction rate may have been applied to payments made to subcontractors during 2025/26. HMRC’s new guidance applies to contractors who receive a letter concerning deductions...
by MAS | Mar 5, 2021 | Business advice, CIS, Construction services, VAT
Introduction of New VAT Penalty System HMRC have announced a reform of the current penalty system regarding late submissions of VAT returns and late payment of VAT liabilities. Instead of an automatic penalty being applied, points will be accrued depending on the...
by MAS | Jun 9, 2020 | CIS, Construction services, Coronavirus, Covid-19, Financial news, HMRC
The government has announced a further five-month delay to the introduction of the domestic reverse VAT charge for construction services due to the impact of coronavirus. The reverse charge was originally due to come into force on 1 October 2019, but was then pushed...
by MAS | Apr 27, 2020 | Business advice, CIS, Construction services, Coronavirus, Covid-19, Financial news, HMRC
Benefits and Tax Credits Update As part of a number of measures to support the country during the coronavirus pandemic, the basic element of Working Tax Credit has been increased by £1,045 to £3,040 from 6 April 2020 until 5 April 2021. The government is also uprating...
by MAS | Dec 16, 2019 | Business advice, CIS, Construction services, VAT
HMRC has postponed the introduction of the reverse charge for the construction industry until October 2020. What does this mean for your business? Announcement: A new reverse charge for construction industry businesses was due to come into force from 1 October 2019....
by MAS | Dec 7, 2019 | Construction services, VAT
HMRC has postponed the introduction of the reverse charge for the construction industry until October 2020. What does this mean for your business. Announcement. A new reverse charge for construction industry businesses was due to come into force from 1 October 2019....
