Construction Industry Scheme (CIS) clauses for an agreement for lease
Published by a LexisNexis Tax expert
PrecedentsConstruction Industry Scheme (CIS) clauses for an agreement for lease
Published by a LexisNexis Tax expert
Precedents
1
Construction Industry Scheme—for use where the landlord’s contribution is a reverse premium
The Landlord and Tenant acknowledge that the Landlord’s Contribution is a reverse premium for the purposes of Income Tax (Construction Industry Scheme) Regulations 2005, Regulation 20 and therefore it is not a contract payment for the purposes of Finance Act 2004, Chapter 3, Part 3 and accordingly will be paid without deduction on account of tax thereunder.
2
Construction Industry Scheme—for use where landlord is making payment to the tenant for works and CIS will or may apply
2.1
In this clause 2:
‘Construction Industry Scheme’ the construction industry scheme as enacted by FA 2004, Chapter 3, Pt 3 and the Regulations
‘Contract Payment’ has the meaning given to it in FA 2004, s 60(1)
‘Contractor’ means a person who is a ‘contractor’ as defined for the purposes of FA 2004, Chapter 3, Pt 3
‘FA 2004’ means Finance Act 2004
‘hmrc’ means HM Revenue & Customs
‘Order’ means Finance Act 2004, s 61(2),
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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Construction Industry Scheme definition
What does Construction Industry Scheme mean?
The Construction Industry Scheme (cis) is a tax regime affecting all payments made by contractors to sub-contractors in relation to construction operations (all as defined in the CIS). The definition of 'a contractor' can also include an employer.
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