VAT changes for CIS Sub-contractors delayed
The VAT rule changes for building contractors and sub-contractors that were expected to come into effect imminently, have been delayed for 12 months until 1 October 2020. This surprise announcement followed intense lobbying by the construction industry who have...
New construction licensing scheme proposed
A new mandatory licensing scheme for all UK construction companies is to be developed in a bid to improve the trustworthiness of the sector. The scheme, “to transform the sector into a high quality and professional industry”, will be led by a new Construction...
UK construction activity falls for first time in 11 months
Britain's construction industry reported the first fall in activity in almost a year last month, as Brexit uncertainty and a slow housing market delayed new building projects. The IHS Markit/CIPS Purchasing Managers' Index (PMI) fell to 49.5 in February from January's...
Housing borrowing cap now officially scrapped
Further to our previous post, the Housing Revenue Account (HRA) borrowing cap has now been officially abolished, allowing councils to build up to 10,000 homes a year. The scrapping of the cap, which was announced earlier this month by prime minister...
Lifting of housing borrowing cap is warmly welcomed
Prime minister Theresa May’s unexpected announcement that the government is scrapping the cap on how much councils can borrow to build new homes has been widely welcomed Speaking at the Conservative Party conference in Birmingham , May said she was lifting the limit...