11 Jan 2024
Construction and Development
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Tax and Finance
BPF’s response to draft regulations makings changes to Construction Industry Scheme (CIS)
We responded to HMRC’s technical consultation on CIS – which proposes to introduce a VAT compliance test in order to qualify for Gross Payment Status – and also address challenges with withholding tax being applied to landlord tenant contributions for fit out works. The latter is an issue we have lobbied on for some time, and we are pleased that Government have recognised the challenges this withholding tax can put on new tenants seeking to lease new premises. We broadly welcome the draft regulations and suggest a few areas for improvement.