UK Tax Office Asks Construction Industry About Tax Regime Fixes

The UK tax office is asking the construction industry about certain changes to income tax liabilities for companies that contract out work.

His Majesty’s Revenue and Customs started a consultation Tuesday on new proposals for the Construction Industry Scheme, a program construction companies and other contractors must use to deduct money from a subcontractor’s pay for tax and social security contributions.

The CIS program changes include exempting small VAT compliance failures and landlord payments to tenants such as construction costs on a residential property.

• Compliance with VAT obligations will be part of conditions to retain gross payment ...