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Tax and VAT Issues for Construction Industry Scheme

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.  

WHO SHOULD ATTEND

Anyone working in industry or practice with responsibility for CIS and VAT invoicing and accounting. Prior knowledge of VAT principles is required.

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Learning Objectives

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.

Course Content

  • 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

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