Construction Industry Scheme

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Course Overview

This course will cover all taxation aspects relating to the Construction Industry Scheme with particular emphasis on practical applications. It is intended for delegates wishing to obtain a good working knowledge of the requirements, problems and practicalities relating to the taxation of contractors and sub-contractors. The proposed changes from 6/4/2007 will also be fully reviewed, with practical case studies.

Course Outline

• The workings of the Construction Industry Scheme
• Taxation aspects of contractors and sub-contractors
• How CIS impacts of groups, companies and associations
• Review of the recent major changes on sub-contractors in the construction industry and their implementation
• The requirement for mandatory registration certificates
• The penalties incurred for non-compliance under the new regulations
• The requirements to obtain a CIS 5 certificate and CIS 6 certificate
• Businesses which spend over 1,000,000 per annum on construction operations and who are 'contractors' for the purposes of the tax deduction scheme
• The scope of construction operations
• Sub-contractor's tax certificates; repayment claims, and the issue, renewal and withdrawal of tax certificates and registration cards
• Review of new forms and new vouchers used in the scheme
• Contractors' checking guide
• Finance Act changes
• Case studies, problems and solutions
• The proposed major changes which are due in April 2007
• The self employed test, requirements and certifications
• Practical case studies on the 2007 changes
• The new monthly returns
• The verification tests
• General overview

Construction Industry Scheme / CM9593