CIS Gross Status

CIS Gross Status

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I am trying to establish the turnover test for gross status for a a limited company.

In my opinion HMRC website is not clear.  It says must be "£30,000 for each director of a company, or at least £200,000 for the whole company"

Do they mean         in any case must be a minimum turnover of £200,000?

Or  a company with  2 directors   would a turnover of £60,001 qualify for gross status?

Does anyone have recent practical experience of this?

Thank you

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Euan's picture
By Euan MacLennan
12th Jul 2011 14:42

What part of "or" don't you understand.

It is £30,000 per "relevant person", which includes shareholders in a close company as well as directors,

OR

£200,000, regardless of the number of relevant persons.

If a company has two director/shareholders, it will pass the turnover test if its construction turnover is more than £60,000.

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