9 August 2019

Tax Guidance for Build UK Members – August 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 August edition includes:

Reverse VAT

The JTC Newsline includes information for Tier 2’s as to whether they need to register to send in monthly VAT returns, as well as the latest information from HMRC.

Build UK has published a practical guide to help members prepare. Please do get in touch at membership@builduk.org if you have any questions on it.

Off-Payrolls Working Rules to Change

From April 2020 any business that is ‘large’ will have to use new tests to decide whether a worker, working for them through his own limited company, is really an employee of their business using the HMRC online check employment status for tax (CEST) tool. The firm using the actual worker will responsible for doing the test. They must report any

decision to the worker and to any intermediary agency which provided the company that provided the worker.

Capital Gains Tax

Currently capital gains tax (CGT) is payable by UK residents by 31 January following the tax year of disposal. From April 2020 this will reduce to 30 days from the date of completion for residential property.

The full newsletter can be viewed here. If you have a query relating to items in the newsletter, please contact Liz Bridge.