Member Since: 6th Sep 2005
I currently work for Construction Industry Solutions Ltd (known as COINS), the leading provider of integrated business software to the construction industry. My main area of responsibility within COINS currently is statutory compliance (particularly CIS and VAT). I am also starting to look at issues around environmental accounting. As well as working for COINS, I chair the Construction Industry Special Industry Group within BASDA. I also represent BASDA on the HMRC CIS Operational Forum.
4th Sep 2019
This article is misleading in that implies that the Employer's NI can be deducted from the Gross - whereas the rules make it clear that the Ers NI cannot be taken out of the contractually agreed rate and is a cost to the employer over and above the contract price.
3rd Sep 2019
On reverse charge sales you no longer receive VAT from your customer but the revenue is still included in your flat rate calculation. So you effectively end up paying VAT to HMRC that you have not received from your customer.
28th Aug 2019
I don't see any cause to object to this. It seems to be applying common sense to say that you can't reduce the price for VAT purposes only without actually refunding the customer. This does not change tax point rules - it merely prevents abuse.
21st Mar 2019
Absolutely no way!! Not now; not ever!!
Big Brother indeed. And despite GDPR, who knows what will happen to the data tracking every movement.
Morally unacceptable on every level. Erodes trust and personal responsibility.
6th Mar 2019
Particular clarity is required about how this will operate in the Construction Sector and how it will interact with CIS tax obligations. Following 6 months after the introduction of Construction Reverse Charge VAT this could be a horrendous burden for the Construction Sector.
14th Feb 2019
Introducing a staff canteen at our office has definitely had significant benefits for the business. Apart from the time saving on staff going up the high street to buy lunch it has improved staff morale. But also staff from different departments get drawn into conversations which otherwise would not have happened. It is an environment where discussion about both business and non-business matters can be really fruitful.
10th Oct 2018
Such a ban on non-audit work for audit clients is long overdue. The conflict of interest is otherwise unavoidable. If it pushes up audit fees then it means that these were being subsidised by non-audit work which makes the conflict of interest even more clear to see.
11th Jul 2018
And VAT issues in Construction will only get more complicated and confusing for all concerned with the introduction of the reverse charge on 1 October 2019.
23rd Nov 2017
For those in the Construction Industry there was an important announcement buried in the small print ad not so far picked up on by any of the media or commentators. From Oct 2019 the industry is going to have to cope with operating Reverse Charge VAT on the majority of subcontract payments. In an industry where there are large volumes of small subcontractors, many of whom have little knowledge of tax and accounting, implementing this complex change is going to be a major challenge.
8th Feb 2017
The regulations state that time to pay is measured from the date of receipt of the invoice. There is a problem with this. Does anyone know of an accounting system which records the date of receipt? All systems record the Invoice Date and almost all will record the date of input to the system. I have not seen one that also records the date of receipt (unless received electronically directly into the system), which will normally lie between those two dates. Therefore it will be impossible for most companies to strictly comply with these regulations. I expect most companies will either use invoice date or input date as the only practical way of trying to comply. Any amendments to software to add another date to all invoices will be costly and will not be ready for April.