The CIS compliance regime: What's your experience?

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The Institute of Chartered Accountants in England and Wales (ICAEW), an industry & profession panel, have been telling HMRC for a long time that the bar for gross payment status has been set too high.

The newly announced 100 de minimis is a result of that lobbying, which included a paper sent to minister level expressing concern at the potential impact on the industry. However, for any further shift, it has been told that harder evidence will be needed to demonstrate the real impact, and show that the punishment is out of all proportion to the crime.

HMRC's line is that they have tracked some gross-to-net businesses, to find they are still operating within CIS and have not gone bust, but is this the reality of the situation? Top tax lecturer Rebecca Benneyworth thinks that...

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