Tax shock for small builders

Article Abstract:

Plans by the UK Inland Revenue to re-classify tax exemptions for building firms have met with anger from the Federation of Master Builders and the National Federation of Builders. The change would affect firms with less than 5 million pounds sterling profit per year. Small firms have a tax classification of 714C, which enables them to pay tax at the end of the year and earn interest on earnings up to that date. A change to the 714P classification would entail extra paperwork for both contractor and client. The 714P code has been used in the past when firms were under investigation.

Planning, Tax reform, Tax policy, Revenue

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Confusion reigns over tax crackdown

Article Abstract:

The UK Inland Revenue and the Contributions Agency seem to be creating confusion in the construction industry by issuing conflicting advice about the taxation of self-employed workers. The Inland Revenue is claimed by construction industry unions to have informed labour agencies that they can employ self-employed people but must pay employer's National Insurance contributions. In contrast, the Contributions Agency has stated that self-employed people will have to pay employee's National Insurance. There are fears that labour costs will rise as a result of the new regulations.

Laws, regulations and rules, Self-employed persons, Self employed persons, Tax evasion

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Lottery landmark in closure shock

Article Abstract:

The 52 million pounds sterling remodeling of the Sadler's Wells Theater in London, UK, is to undergo remedial work during August 1999, after being open since October 1998. The National Audit Office has criticised the construction work carried out at the theater by construction firm Bovis. The new theater was the first lottery-assisted building project to be finished in the UK, overseen by the Arts Council. The main problems have occurred with the stage area, which is substandard and the some of the machinery used by stage management.

United Kingdom, Buildings and facilities, Maintenance and repair, Theaters, Sadler's Wells Royal Ballet Company

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