Harris Lipman News

Constructive conference for construction workers

14/12/2006

With construction contractors and sub contractors across London being increasingly targeted by HM Revenue and Customs (HMRC) in light of the impending new Construction Industry Scheme (CIS), Harris Lipman recently hosted a successful free seminar to help clarify the situation for all involved.

Over 30 local professionals from within the construction industry attended the seminar held at the Premier Travel Inn, Touchbase South Mimms, which saw a series of interesting and technical presentations given by the various tax experts at the firm.

The seminar provided solid, expert advice on all aspects of the Scheme, covering areas such as how to keep sub-contractors self-employed, practicalities of the new CIS Rules and details of Penalties for non-compliance.

Barry Lewis, partner at Harris Lipman, comments: "As part of the new CIS, HMRC have confirmed that they will be closely monitoring all businesses who are required to operate the Scheme to make sure that they are fulfilling their tax obligations. As part of a new and sterner strategy, non-compliance is to be met with substantial penalties and possible loss of gross payment status.

"With the recent news, however, of local contractors and sub-contractors receiving written enquiries regarding their self-employment status, some of which have resulted in huge PAYE bills, it would seem that the proposed increasingly controlled approach is already being applied.

"In response to this, have noticed a significant flow of, often panicked, enquiries relating to the looming CIS. Thus, as keeping on top of current trends and crucial economic changes is the key to any successful business, we felt that it was important to offer local businesses expert advice ahead of the changes, in order to prepare those who will be affected by the Scheme."

Barry concludes: " All in all, the seminar received a big turnout and proved to be a great success for everyone involved. I have since received a number of phone calls from local attendees to say thank you for helping to clarify the changing situation for them."

For more information please call 020 8446 9000.

 

Print page