Construction industry scheme: drop VAT compliance test
[ad_1] ICAEW’s Tax Faculty considers the proposed construction industry scheme (CIS) gross payment status (GPS) VAT compliance test is unlikely to deter organised criminal groups and should be dropped. Making contractors and sub-contractors pass a VAT compliance test to qualify for construction industry scheme (CIS) gross payment status (GPS) will increase burdens for the compliant […]
ICAEW on proposed changes to creative industry tax reliefs
[ad_1] The government has suggested merging five audio-visual tax reliefs and altering the mechanism by which businesses claim relief to an ‘above the line’ taxable credit. The five audio visual (AV) reliefs under discussion in HM Treasury’s consultation are: Film tax relief (FTR) Animation tax relief (ATR) High-end TV tax relief (HETV tax relief) Children’s […]