Fines have rocketed to £180m for contractors through the construction
industry’s tax scheme.
The new Construction Industry Scheme, which was updated last April to include
online filing and a new penalty regime, has led to a level of fines that has
swamped even the worst fears.
CIS tax expert Carolyn Walsh said construction firms’ futures were at stake.
‘This hard line on CIS fines is threatening firms’ futures. The figures are
huge and contractors cannot afford it at the moment,’ Walsh said according to
But a large number of appeals have been successful. Of the 227,000 firms who
appealed, 185,000 were successful.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states