OFFSHORE EVASION OFFENCE GIVEN SAFEGUARDS
This should ensure that people who make errors over relatively small sums of tax do not get caught by the offence which, for now, will apply just to income tax and capital gains tax
But the Chartered Institute of Taxation (CIOT), which called for safeguards earlier this year, says its main concern on behalf of taxpayers still stands
A taxpayer may fall within the ambit of the offence without any intention or knowledge on their part
The same document states that the offence will be triggered in three ways - failing to notify HMRC of chargeability of tax; failing to file a return and filing an inaccurate return
CITB PROPOSES TAKING LEVY BACK UP TO PRE-COVID FIGURE
The Construction Industry Training Board (CITB) has proposed hiking its levy back up to pre-covid rates from 2022 as it launches a consultation into its funding proposals. The skills body had suspende ...
SELF-EMPLOYED WORKER NUMBERS 13% DOWN ON PRE-COVID LEVEL
Numbers of self-employed workers are slowly returning to the pre-Christmas level despite worries that many eastern Europeans would not return after the break. According to the construction industry& ...
CONSTRUCTION CONTRACT AWARDS DROP BY 12% IN JANUARY
The value of construction contract awards decreased by 12% in January to £4.3bn, 10% lower than the monthly average in 2020 When compared to December, construction contract awards in Januar ...
UBER HAS LOST IN THE SUPREME COURT. HERE’S WHAT HAPPENS NEXT
Uber has lost a landmark case in the Supreme Court and must now classify drivers on its platform as workers. The ruling entitles Uber drivers to minimum wage and holiday pay, protections they were una ...
REVERSE VAT IS FAST APPROACHING
VAT registered construction businesses are advised to be aware of the reverse charge measure that is to be implemented from 1 March 2021. Letters were distributed to every VAT registered construction ...
HOW CONSTRUCTION CAN FIX ITS IMAGE POST-PANDEMIC
The new year is barely under way, yet it has already brought with it momentous change – new vaccines for COVID, being delivered at phenomenal pace; a potentially balanced political backdrop with ...