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Construction industry scheme penalties: regulations

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The Finance (No. 3) Act 2010, Schedule 10 and the Finance Act 2009, Schedule 55 and Sections 101 to 103 (Appointed Day, etc) (Construction Industry Scheme) Order, SI 2011/2391, appoints 6 October 2011 as the day on which two changes come into force. Penalties for failure to comply will arise under FA 2009, Sch 55 instead of as provided in SI 2005/2045, and late payment of that penalty (or late repayment by HMRC) will carry interest under FA 2009 ss 101 to 103(9).