Construction Industry Scheme
Four new measures affecting the CIS came into force from 6 April 2021, which aim to crack down on tackling labour fraud: [fusion_checklist icon=\”fa-square fas\” iconcolor=\”\” circle=\”\” circlecolor=\”\” size=\”\” divider=\”\” divider_color=\”\” hide_on_mobile=\”small-visibility,medium-visibility,large-visibility\” class=\”\” id=\”\”][fusion_li_item icon=\”\”]HMRC can amend the CIS deductions suffered and reclaimed to an amount matching any evidence they hold;[/fusion_li_item][fusion_li_item icon=\”\”]Only where a subcontractor […]
Making Tax Digital for income tax
From April 2024, sole traders and unincorporated landlords with business or property income of £10,000 or more, will be required to join Making Tax Digital (MTD). This means that those affected must use MTD-compliant digital software (such as Xero) to submit quarterly summaries of their business\’s income and expenses. In return, these businesses will receive […]