It really could be you
Article Abstract:
UK construction companies must take careful note of the government's determination to crack down on tax avoidance. The Inland Revenue will particularly target companies which have persistently produced information which is late or estimated. It will also place more emphasis on checking whether a company's accounting systems can produce the necessary information for accurate tax returns. There will also be greater cooperation between the PAYE and corporate tax departments of the Inland Revenue.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1997
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All change for commuters
Article Abstract:
Changes to the UK's tax relief regulations are of special interest to the construction industry. New tax relief rules could leave site-based employees in a better financial position than site managers. Employees travelling to a temporary workplace rather than a normal place of work are currently allowed tax relief, but under the new rules, due to be introduced in April 1998, tax relief can only be claimed if commuting to the temporary workplace costs more than the usual travel expenses.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1997
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Self-aware assessment: self-assessment comes into force on 6 April this year. What will the new tax regime mean for construction industry employees and their employers?
Article Abstract:
When self-assessment comes into force in April 1997 individuals will be subject to large penalties and interest if the requirements are not met. Individuals can calculate their own tax liability or let the Revenue calculate their liability. Employees will need to information from their employers to complete their SA forms and there could be problems for construction companies and employees due to the change in approach to the employment status of subcontractors.
Publication Name: Building
Subject: Construction and materials industries
ISSN: 0007-3318
Year: 1997
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