Construction companies across the Midlands are being targeted by HM Revenue and Customs (HMRC) who have sent thousands of letters to contractors and sub-contractors regarding their self-employment status. Some of these status enquiries have led to some construction companies receiving huge PAYE bills.
In response to the confusion, Sutton Coldfield based accountants and business advisers Weatherer Bailey Bragg LLP, have organised a free to attend seminar which aims to clarify the situation for all involved.
The event is being held at the Ramada Hotel, Penns Lane, Walmley, on Tuesday 13th March.
Patrick Bragg, senior partner at Weatherer Bailey Bragg LLP, comments: “The new Construction Industry Scheme changes come into effect on the 6th April 2007. One of the main objectives of the new Scheme to be introduced is to ensure that businesses who are required to operate the Scheme comply with the tax obligations. HMRC have stated that compliance with the new Scheme will be closely monitored, and if businesses do not comply they will be penalised and it may also mean the loss of gross payment status.
“At this Seminar our expert speakers will provide you with a clear understanding of the requirements for operating the new Scheme, such as how to keep sub-contractors self-employed, practicalities of the new CIS Rules and details of Penalties incurred for non-compliance. As an addition to this agenda we shall also cover a short session looking at Inland Revenue interventions and the new Van Scale Benefit Charges which come into force from April 2007.
“I would urge anyone who thinks they may be affected to come along for some free advice.”
The event is free to attend but advance booking is required. To confirm your place please click here or call 0121 355 1901.