Tax and VAT Issues for Construction Industry Scheme
Course
In City of London
Description
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Type
Workshop
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Location
City of london
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Class hours
6h
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Duration
1 Day
Businesses operating within the Construction Industry Scheme (CIS) must do so correctly to avoid pitfalls and penalties. VAT in the construction industry can be complex as it involves different VAT liabilities (0%, 5% and 20%) depending on the type of work undertaken.
This course explains the CIS in detail and the VAT implications of construction work. The course will be presented by two trainers, a CIS specialist and a VAT specialist.
Facilities
Location
Start date
Start date
About this course
Anyone working in industry or practice with responsibility for CIS and VAT invoicing and accounting. Prior knowledge of VAT principles is required.
Reviews
Subjects
- VAT
- Invoicing
- Construction
- Industry
- HRM
- Record Keeping
- Tax System
- Tax return
- Construction Training
- Tax
Teachers and trainers (2)
Michael Evans
Teacher
Mike is an employment taxes and CIS consultant who specialises in Employment related issues and has been presenting training courses on P11D Expenses and Benefits issues for more than 20 years. Mike started his career in the Inland Revenue and was a Senior Corporate Inspector when he left in 1988 to work for three ’top ten’ Accountancy firms until becoming an independent Consultant in May 2006.
Tim Buss
Teacher
Tim has been involved with VAT since 1973. He joined HM Customs & Excise (“Customs”) in May 1973, shortly after the introduction of VAT in the UK. He worked as a visiting VAT inspector and as a classroom trainer. He was appointed director of VAT in 1998. In addition to presenting various training courses Tim is a consultant to a number of accountancy firms and other businesses. He has represented clients in a number of VAT Tribunal cases. Tim is currently an associate member of the Chartered Institute of Taxation following a merger of the two institutes.
Course programme
- Introduction to CIS and how it operates
- Obligations of contractors and subcontractors
- Work that is included in and excluded from CIS
- Rules for making payments to subcontractors
- Submission of returns
- Payments to HMRC
- VAT liability of construction services
- VAT definition of materials normally installed by builders
- Time of supply for VAT
- VAT invoicing – interaction with CIS invoicing
- Penalties for CIS and VAT
- Employment v Self employment
- Travelling expenses (tax and VAT) for contractors, employees and self employed
- Record keeping and how to handle an inspection
Tax and VAT Issues for Construction Industry Scheme