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HMRC revenue from construction industry investigations falls

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HMRC’s yield from construction industry investigations fell 34% between 2014/15 and 2015/16, down to £102m, according to accountancy firm UHY Hacker Young. Having risen in each of the last three years, the amount of additional revenue from investigations in this sector has fallen to its lowest level since 2011/12. This turnaround could be a consequence of HMRC’s clampdown on ‘false’ self-employment in the construction sector, suggests Roy Maugham, tax partner at UHY Hacker Young, leading more construction companies to convert workers to PAYE. ‘The construction industry seems to be getting the message after years of being targeted by the Revenue’, commented Maugham.

Issue: 1342
Categories: News