A new construction
Benneyworth, R.
A new construction - 2005 - Taxation 154(3992) 27 January 2005, 400-403(4) .
Discusses changes to the Construction Industry Tax Deduction Scheme which was due for significant reform as long ago as November 2002. These are important alterations resulting in a brand new scheme which is starting in 2006. The changes include alterations to the system of payment when a subcontractor seeks exempt status. The contractor will no longer have to demonstrate exempt or taxable status to the contractor and instead this will be achieved by subcontractors seeking payment for construction work registering with the Inland Revenue. A new monthly return will also be required from contractors which will contain details of all payments made under the scheme. With a table of new scheme obligations and circumstances that are minor infringements.
BUILDING CONTRACTORS
SUBCONTRACTORS
FINANCE ACT 2004 PART III
CONSTRUCTION INDUSTRY TAX DEDUCTION SCHEME
A new construction - 2005 - Taxation 154(3992) 27 January 2005, 400-403(4) .
Discusses changes to the Construction Industry Tax Deduction Scheme which was due for significant reform as long ago as November 2002. These are important alterations resulting in a brand new scheme which is starting in 2006. The changes include alterations to the system of payment when a subcontractor seeks exempt status. The contractor will no longer have to demonstrate exempt or taxable status to the contractor and instead this will be achieved by subcontractors seeking payment for construction work registering with the Inland Revenue. A new monthly return will also be required from contractors which will contain details of all payments made under the scheme. With a table of new scheme obligations and circumstances that are minor infringements.
BUILDING CONTRACTORS
SUBCONTRACTORS
FINANCE ACT 2004 PART III
CONSTRUCTION INDUSTRY TAX DEDUCTION SCHEME