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What’s proposed on tackling fraud in the construction industry?

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Following the announcements in the Spring Budget, HMRC is consulting on new policy measures to tackle VAT and income tax fraud in the construction industry (see www.bit.ly/2nrZRJz). The proposals would see the introduction of a VAT reverse charge, changes to the entry criteria for the construction industry scheme, and fraud monitoring obligations placed on the supply chain. Feedback from businesses raises some significant concerns about the complexity, and therefore the cost, of administering the new measures. It also raises some important questions about whether the proposals represent a coherent strategy to deliver HMRC’s policy objectives. Affected businesses have until 9 June to respond.

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