CIS will cost ten times more than HMRC estimates

The construction industry scheme could cost ten times more than Treasury
estimates, the ICAEW has warned.

The costs of the scheme, which is designed to be cheaper than current
arrangements, could hit £250m-£280m a year, the institute says.

The Treasury thinks it will cost businesses only £22m a year. The scheme
comes into effect this year, after being
delayed a year ago due to
technical problems.

Further reading:

Revenue guidance on
the scheme

Delayed construction scheme
faces contractor data crunch

Feared CIS scheme delayed

Related reading