Construction SMEs Beware
As reported in Accountancy Age today, HMRC investigations into the construction sector have increased 17%, resulting in yields rising from £131m to £154.2m in 2015.
HMRC has been actively targeting self-employed workers within the sector for the pas five years and it seems it will remain their focus in 2016.
Chris Blundell, Partner at MHA MacIntyre Hudson who is part of the firm's Construction and Real Estate sector states:
"Increased tax gained from HMRC investigations in 2015 into construction companies shows it’s more important than ever to ensure all labour taken on and paid through *CIS is genuinely self-employed and that care is always taken to operate CIS properly. Investigations into SME's, which most construction companies are, is now a focus of HMRC in a way that it's never been before."
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Contact our CIS specialists
If you have an issue with the operation of the *Construction Industry Scheme (CIS) or want to ensure that what you are doing is correct, please contact our Employment Tax Services team who have significant experience in working with clients on the CIS.
Our Employment tax team: http://www.macintyrehudson.co.uk/services/tax/meet-team
Our Employment tax services: http://www.macintyrehudson.co.uk/services/tax/employment-tax-services
Please visit our construction and real estate pages for details of our specialist services to the sector.
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