ICAEW calls for guidance on CIS changes
Released 08 January 2021
The Institute of Chartered Accountants in England and Wales (ICAEW) is calling on HMRC to publish draft regulations and guidance detailing forthcoming changes to the construction industry scheme (CIS) or consider pushing back implementation until 2022.
The changes, which aim to tackle abuse of the CIS, are due to take effect from April 2021, but HMRC are yet to publish secondary legislation, guidance or the IT specifications needed for industry to make necessary changes.
Further information can be found in ICAEW REP 05/21 Construction Industry Scheme (Draft Finance Bill 2021).