Tax & the Construction Industry Scheme - A 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:

• What is the point of CIS and what it means for you:
• When does it apply?
• The terms ‘construction operations’ and ‘structures’
• Who is responsible?
• Consequences of getting it wrong
• The scope of the CIS
• Construction contracts
• What types of ‘contracts’?
• Mixed contracts
• Call-off contracts
• Framework or enabling agreements
• Other types of contracts
• What does this mean for you?
• Contractors and subcontractors
• Professional and consultants
• Terminology
• Construction operations
• What are construction operations?
• What are not construction operations?
• Additional information/guidance
• Materials charges
• The mechanics - payment classifications
• Determining payment status
• Making payments and deductions
• Reporting obligations
• Penalty regime

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.