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Draft regulations extending security deposit legislation to CT and CIS

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HMRC is consulting until 11 February 2019 on the draft Income Tax (Construction Industry Scheme) (Amendment) and the Corporation Tax (Security for Payments) Regulations 2019, extending the scope of the existing security deposits legislation to include construction industry scheme and corporation tax deductions with effect from April 2019.

This follows consultation between March and June 2018 on the proposed changes and the introduction of a regulation-making power in Finance Bill 2019 (cl 82).