And so what is the CIS withholding rate for 2007/08

And so what is the CIS withholding rate for...

Didn't find your answer?

PBR 2006 said it would be 20%

Budget appears silent so is it 18% or have I missed something?

Ian
CCA TQ

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Euan's picture
By Euan MacLennan
23rd Mar 2007 10:48

Chapter and verse
If you really, really want the legislation setting out the rates, it is SI 2007/46 .

The 20% rate has been well publicised. If contractors do not know about it, they probably know very little about the new CIS.

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By Brads.Kings
23rd Mar 2007 08:38

Well found, but
Revenue & Customs cannot just say the rate is 20%, there has to be legislation or more probably a Statutory Instrument and I expected a Budget press release.

I am not convinced that many applying the CIS know it is 20%.

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Euan's picture
By Euan MacLennan
22nd Mar 2007 15:27

20% or 30%
See the Revenue website Commencement & Deduction rates

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