Adverse impact on small and medium size businesses in the construction sector a sector that is vital in stimulating economic recovery
I spend considerable amounts of time administering CIS deductions on behalf of HMRC every month – checking verifications, deducting tax, paying tax over, recording submissions, issuing tax certificates of deduction, entering returns as well as maintaining our own tax gross status. Why can't individual sub-contractors be treated the same as any other individual or company without foisting the administrative and indeed collection burden on small businesses in an already tough and demanding sector? I am understanding and more than accepting of the need for individuals and companies to register as self employed or with companies house and I accept that there may be arguments that this is a sector where avoidance has been an issue but why penalise small businesses that are trying to do things correctly and contribute to economic growth with this significantly time consuming burden?