Change of tax status threatens construction industry workers
Hundreds of thousands of construction industry workers could lose their self-employed status under a planned change to the Construction Industry Scheme (CIS), according to the Institute of Certified Practising Accountants (ICPA).
HM Revenue & Customs (HMRC) is planning to clamp down on those workers who register as self-employed to minimise their tax liability by introducing new rules. However, the ICPA warns that the proposed new rules will mean that subcontractor builders and other workers will be classed as employees for the period of their contract with firms, which it claims is "a ridiculous idea".
To read more on this story go to:
http://www.oldham-chronicle.co.uk/news-features/7/business-news/29831/taxchange-threat-to-construction-industry
