KinsellaTax have Construction Industry Scheme specialists with the experience and in-depth knowledge required to tackle and deal with every aspect of your CIS tax investigation.
To speak to one of our Construction Industry Scheme specialists call us anytime, day or night, on 0800 471 4546.
It is easy to fall foul of the regulations in place for the Construction Industry Scheme and, therefore, easy to incur HMRC tax penalties.
You need KinsellaTax to settle any CIS tax investigation.
As shown below, HMRC issue massive tax penalties for those who fail to comply with Construction Industry Scheme rules and regulations.
The Construction Industry Scheme tax system is backed up by penalties.
For help reducing penalties received from HMRC during a Construction Industry Scheme investigation call KinsellaTax NOW on 0800 471 4546
Penalties cover situations such as:-
There are two penalties that are more likely to be imposed in a Construction Industry Scheme tax investigation:
To avoid tax penalties for failing to comply with HMRC rules, contact KinsellaTax for advice in all Construction Industry Scheme matters.
Below is a table showing examples of Construction Industry Scheme penalties for failing to submit monthly returns:-
The tax penalty will increase, depending on the number of subcontractors on the return.
If there were 500 subcontractors, for example, the late return penalty will be £1,000.
‘Nil’ returns will also be liable for a penalty of £100 per month if it is not submitted or submitted incorrectly or fraudulently.
Can’t sleep at night for worrying about whether you have complied properly with HMRC’s strict Construction Industry Scheme regulations?
Call KinsellaTax’s Construction Industry Scheme experts immediately on 0800 471 4546.
Listed below are additional tax penalties that HMRC may charge in relation to the Construction Industry Scheme:
Non-compliance with Construction Industry Scheme rules and regulations has severe implications including strict tax penalties and recovery of tax from contractors.
Give yourself the best chance of winning a Construction Industry Scheme appeal against HMRC by calling 0800 471 4546 or click here to send us an email.
Under Construction Industry Scheme rules and regulations HMRC require that contractors maintain full records of subcontractors’ details, payments to subcontractors and whether the subcontractors have been verified.
These records need to be kept for at least 3 years after the end of the tax year to which they relate.
Under Construction Industry Scheme rules and regulations HMRC are entitled to inspect these records.
If a contractor receives a request from HMRC to inspect records it is important to seek professional advice before records are inspected under the Construction Industry Scheme.
In a Construction Industry Scheme record inspection HMRC will not just be looking to see that the contractor has maintained proper records but they will also look at:-
It is very important to seek professional Construction Industry Scheme advice in this situation.
KinsellaTax staff consists of ex-HM Inspector of Taxes and ex-HM Custom and Excise Officers, fully experienced in HMRC Tax Investigations and Construction Industry scheme tax investigations.