{"id":429,"date":"2009-01-08T17:55:19","date_gmt":"2009-01-08T17:55:19","guid":{"rendered":"http:\/\/www.goodmanjones.com\/blog\/?p=429"},"modified":"2014-02-17T17:55:19","modified_gmt":"2018-09-26T11:14:24","slug":"construction-industry-scheme-and-gross-payment-status","status":"publish","type":"post","link":"https:\/\/www.goodmanjones.com\/blog\/construction-industry-scheme-and-gross-payment-status\/","title":{"rendered":"Construction Industry Scheme and Gross Payment Status"},"content":{"rendered":"

Following on from Graeme\u2019s post<\/a> about the Time to Pay arrangements.<\/p>\n

Are you in the Construction Industry? Have you got Gross Payment status? If you have, you\u2019ll know how valuable that status is, and you\u2019ll be well aware that losing that status could lead to a loss of up to 20% of cash inflow. And that would be terminal for many businesses.<\/p>\n

In these difficult times of slowing customer payments and restricted funding from banks, it\u2019s easy to allow PAYE and Corporation Tax payments to take a back seat to other creditors. But if you do you could be putting your Gross Payment status at risk.<\/p>\n

Under its recently published \u201cTime to Pay\u201d scheme, the Inland Revenue has clarified that businesses entering into an arrangement under it will not lose their gross payment status.<\/p>\n

But it\u2019s vital the business agrees the Time to Pay arrangement before payment is due, not after. And whilst there is still a risk that the \u201ccomputer\u201d will send out automatic notices of revocation, the Inland Revenue has also confirmed these will be cancelled on immediate appeal.<\/p>\n

So the message is \u2013 use the scheme or lose the status.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following on from Graeme\u2019s post about the Time to Pay arrangements. Are you in the Construction Industry? Have you got Gross Payment status? If you have, you\u2019ll know how valuable that status is, and you\u2019ll be well aware that losing that status could lead to a loss of up to 20% of cash inflow. And[…] <\/p>\n

Read More<\/a><\/div>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[16,11],"tags":[359,358,68,74,196,386,323],"class_list":["post-429","post","type-post","status-publish","format-standard","hentry","category-tax","category-uk-business-entrepreneurs","tag-business-payment-support-service","tag-cis","tag-hmrc","tag-national-insurance","tag-paye","tag-pre-budget-report","tag-vat"],"acf":[],"yoast_head":"\nConstruction Industry Scheme and Gross Payment Status<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.goodmanjones.com\/blog\/construction-industry-scheme-and-gross-payment-status\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Construction Industry Scheme and Gross Payment Status\" \/>\n<meta property=\"og:description\" content=\"Following on from Graeme\u2019s post about the Time to Pay arrangements. 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