COURSE OBJECTIVES: This practical course will explain exactly how the construction industry scheme works for tax purposes. It will give a detailed guide to all the CIS tax responsibilities for contractors, and the impact on subcontractors alike. Practical case studies will be used illustrating all CIS tax areas.
COURSE CONTENT
- How contractors and subcontractors are taxed within the construction industry
- The workings of the construction industry scheme
- The responsibilities of the contractor
- Verification of subcontractors, monthly CIS returns, and the completion of statements for net payments
- The definition of a contractor
- What really are construction operations?
- Monthly CIS Tax Return completion, computations and case studies
- Review of the recent considerable changes to both contractors and subcontractors within the construction industry and their implementation
- Problem areas: mixed operations, architects, agencies, what is within the scheme and what is not
- The requirements for the subcontractor to obtain gross status
- What do you deduct CIS tax from?
- The penalties for non-compliance
- Review of all CIS forms
- Contractors’ checking guide
- The self-employed test: Is the subcontractor really self-employed? Recent cases
- The requirement of the contractor to ensure subcontractors are truly self-employed, and the consequences if he gets it wrong
- VAT and the construction industry
- IR35 and CIS
- Dealing with HMRC under the new CIS regime
- Practical case studies and model answers
- General overview
WHO SHOULD ATTEND
All individuals who require a practical and detailed guide to the workings of tax and the construction industry.
"I thoroughly enjoyed this course and learnt a lot. Tim is very passionate about CIS and knows his subject."
"An excellent course - lectured by Tim Palmer.I would not have expected anything less as this lecturer is first class."
"Superb lecture, clear, progressive, no jargon."
Would you like this course run in-house? Call us on 0207 566 8207 to find out more