Construction industry scheme

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Practice notes
FORTHCOMING CHANGE: HMRC is consulting (13 July to 10 August 2020) on draft regulations to provide a deduction from a UK entity’s equity and...
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Produced in partnership with Charlotte Sallabank of Katten Muchin Rosenman UK LLP 9th Nov
Practice notes
Plant and machinery allowances are the most widely used form of capital allowance. Plant and machinery is often (wrongly) interpreted as if the terms...
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Produced in partnership with Martin Wilson 9th Nov
Practice notes
It is market practice for a tax covenant, also known as a tax deed, to form part of the transaction documents in respect of a sale of all the shares...
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9th Nov
Practice notes
The reasons why a company might carry out a demerger, and the different ways in which a demerger may be structured, are described in Practice Notes:...
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Produced in partnership with Zoe Feller of Bird & Bird 9th Nov
Practice notes
This Practice Note describes the law and practice relating to elections under section 198 or 199 of the Capital Allowances Act 2001 (CAA 2001), which...
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Produced in partnership with Martin Wilson 9th Nov
Practice notes
It is standard market practice for loan agreements (also known as facility agreements), whether bilateral or syndicated, to:•prohibit a borrower from...
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Produced in partnership with Eloise Walker of Pinsent Masons 9th Nov
Practice notes
Coronavirus (COVID-19): HMRC has stated in its International Manual that if a financial institution cannot meet the FATCA reporting deadline of 31 May...
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Produced in partnership with Ali Kazimi and Chris Orchard of Hansuke Consulting Limited 9th Nov
Practice notes
This Practice Note explains:•what a determination in respect of direct tax (ie a direct tax determination) is•when HMRC might issue a direct tax...
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Produced in partnership with Philip Rutherford 9th Nov
Practice notes
Where a dispute is brought to an end by a payment of damages or compensation, whether under a court order or an out-of-court settlement agreement:•the...
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9th Nov
Practice notes
Overdrafts, term loans and revolving credit facilitiesThree common types of loan facility are:•overdrafts•term loans, and•revolving credit facilities...
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9th Nov
Practice notes
The regime for property authorised investment funds (PAIFs, or as HMRC use in regulations and their published guidance, Property AIFs)) was introduced...
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Produced in partnership with Martin Shah 9th Nov
Practice notes
The value shifting rules are anti-avoidance provisions. They are similar to the rules applying to depreciatory transactions in that they target the...
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9th Nov
Precedents
1 Withholding and grossing up 1.1 All sums payable under this [Agreement] by or on behalf of any party (for the...
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9th Nov
Practice notes
A management buyout, or MBO, involves the acquisition of a business by its existing management team usually with the help of private equity financing....
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9th Nov
Practice notes
The international movement of capital rules should be considered whenever:•any non-UK tax resident subsidiary (referred to in this note as a foreign...
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9th Nov
Practice notes
This Practice Note:•explains:◦the purpose of the tax indemnity clause that is normally found in a loan agreement, and◦that the standard drafting of...
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9th Nov

Most recent Construction industry scheme content

Practice notes
FORTHCOMING CHANGE relating to construction industry scheme (CIS) abuse: Following a consultation that ran until 28 August 2020, Finance Bill 2021 (FB...
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19th Nov
Practice notes
FORTHCOMING CHANGE relating to construction industry scheme (CIS) abuse: Following a consultation that ran until 28 August 2020, Finance Bill 2021 (FB...
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16th Nov
Practice notes
FORTHCOMING CHANGE relating to construction industry scheme (CIS) abuse: Following a consultation that ran until 28 August 2020, Finance Bill 2021 (FB...
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16th Nov
Q&As
The construction industry scheme (CIS) was devised to limit the amount of tax lost as a result of subcontractors in the construction industry...
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29th Sep
Q&As
The construction industry scheme (CIS) was devised to limit the amount of tax lost as a result of contractors in the construction industry failing to...
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29th Sep
Practice notes
This Practice Note sets out the obligations imposed by the construction industry scheme (CIS) rules on sub-contractors, including:•registration•the...
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25th Sep
Practice notes
One of the most common reasons for sub-contractors losing their gross payment status is failure to satisfy their tax compliance obligations, such as...
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25th Sep
Practice notes
In practice, a tax lawyer is likely to come across the construction industry scheme (CIS) rules when representing:•a party to:◦a construction...
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25th Sep
Practice notes
FORTHCOMING CHANGE: HMRC has consulted on the introduction of a new model that will replace the current late payment penalties with a hybrid regime of...
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25th Sep
Practice notes
FORTHCOMING CHANGE: HMRC intends to make wide-ranging changes to the rules on tax penalties, as part of its 'Making Tax Digital' reforms and a wider...
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25th Sep
Precedents
1Construction Industry Scheme—for use where the landlord’s contribution is a reverse premiumThe Landlord and Tenant acknowledge that the Landlord’s...
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2nd Sep

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