21 June 2019
Tax Guidance for Build UK Members – June 2019
Members can access the Construction Industry Joint Taxation Committee’s (JTC) monthly tax guidance newsletter as a key benefit of Build UK membership.
Members often register the difficulties they face in complying with changes to taxation rules and regulations and can now access the JTC newsletter which is publicised monthly on the Build UK website and includes guidance on challenging issues and direct responses to taxation queries.
The June edition includes:
Imminent introduction of Reverse VAT
HMRC has now published their guidance, and further information can be requested from the JTC directly. Build UK is currently working on further guidance and consulting with members on the impact Reverse VAT will have. Input and feedback on the potential impact this will have on businesses is welcomed from all members via firstname.lastname@example.org.
Making Tax Digital
Further points raised include Making Tax Digital (MTD) which is now at the end of its first quarterly period, meaning payments due to HMRC must now be submitted digitally. Software should already be in place to facilitate this, and businesses should be registering now for MTD, if they haven’t already.
There are several useful notes from the Employer Bulletin are included, ranging from cash allowances and payroll information through to tax-free childcare and VAT claims on commercial vehicles.