All active building contractors and building subcontractors are subject to HMRC regulation. The rules they have to abide by are set out in the Construction Industry Scheme (CIS). Essentially, contractors cannot pay their subcontractors without stopping tax. Only in specific circumstances can payments be made without deduction of tax. The scheme operates a little like the PAYE system with one Continue Reading
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Seminars Schedule
THE DANGERS OF GROWTH AND HOW TO NEGOTIATE THEM 16 SEPTEMBER 2014 Lough Neagh Discovery Centre 9.00am to 11.30am At long last we are seeing the first signs of recovery. We all want to see our business grow but if not properly planned, it can be even more dangerous than contraction! Growth requires increased working capital, improved infrastructure and systems. In Continue Reading
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Tax Diary June/July 2014
1 June 2014 - Due date for Corporation Tax due for the year ended 31 August 2013. 19 June 2014 - PAYE and NIC deductions due for month ended 5 June 2014. (If you pay your tax electronically the due date is 22 June 2014.) 19 June 2014 - Filing deadline for the CIS300 monthly return for the month ended Continue Reading
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International tax competitiveness or political spin
David Gauke, the Exchequer Secretary to the Treasury, recently gave a speech to the Lord Mayor’s Taxation Forum. His presentation focussed on international tax competitiveness, and how the UK’s system fares compared to our overseas competitors. Here’s an extract of his comments: Competitiveness “Since 2010 we’ve cut corporation tax from 28% to 21%. And this time next year it will Continue Reading
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