Welcome to the Spring edition of our Property and Construction newsletter.
As ever, our team at Scrutton Bland are here to help you navigate the constantly changing landscape, keep you informed about new regulations and assist you with all aspects of tax, accounting and insurance which relate to this sector. S ince our last newsletter we’ve seen restrictions relating to the pandemic HDVHDVSHRSOHUHWXUQWRRIʳFHV and in-person events. However the war in the Ukraine has had serious economic consequences as fuel supplies have been impacted, resulting in higher prices, and added to the problems with labour costs and materials availability there is something of a perfect storm when it comes to resources for construction professionals.
The Construction Industry Scheme (or CIS) is now up and running. On page 6, Sam Stent, Tax Advisory Manager and Gavin Birchall, Tax Advisory Partner look at the implications of a recent court case which upheld HMRC’s decision to withdraw gross payment status under the CIS despite the taxpayer having subsequently complied fully with all its tax obligations. This will undoubtedly cause alarm bells to ring within the construction industry and it is now more important than ever for these taxpayers to ensure that the relevant TXDOLʳFDWLRQWHVWVDUHPHWDVLQJOHPLVWDNH could prove very costly. :HDUHGHOLJKWHGWRIHDWXUHDSURʳOHRQSDJH 8 of one of the region’s best known building ʳUPV *LSSLQJ&RQVWUXFWLRQ/WG*LSSLQJKDYH recently completed work on the community centre facility at the New Wolsey Theatre in the centre of Ipswich - a visually arresting project which has already won awards. Paul Orriss, Gipping’s Joint Managing Director talks about the challenges that were involved in the project, and the importance of having strong working relationships to deal with issues that can arise on projects of all sizes. Despite the physical competency and skill of most construction professionals, the risk of accidents always remains. On page 10 Insurance Executive Ryan Whybrow looks at personal accident insurance, and why it should be an important consideration for anyone in this sector, to ensure that loss of income is properly covered in the event of an accident which prevents you from working.
Ben Cussons
What can construction businesses do to address these challenges? One important strategy is to plan ahead as rigorously as possible, not least in understanding the lie of the land that they are working on. On page 4 we look at some of the issues involved in dealing with unanticipated obstacles such as water mains or geological features along a pile line, and the impact these can have. It’s vital to ensure you talk to your insurance broker to make sure that the correct covers are in place so that ‘what lies beneath’ doesn’t catch you out.
Finally we’re delighted to announce that Scrutton Bland will be one of the sponsors of the Essex Housing Awards 2022 , which will be happening in November. We’ll be sponsoring the Climate Action Award, so if you or your business has been involved in a construction industry project that has taken into account the importance of climate and environmental issues, then this may be your chance to have that work recognised by some of the leading regional names in this sector. More information about the awards will be available at the end of 0D\VRSOHDVHYLVLWKWWSV ZZZKRXVLQJHVVH[ RUJKRXVLQJH[FHOOHQFHDZDUGVWRʳQGRXW more or keep an eye on social media and the trade press for details. We hope that you enjoy this edition of the Property and Construction Newsletter, and if you want to discuss any of the points raised or DOWHUQDWLYHO\LIWKHUHDUHDQ\VSHFLʳFWRSLFV\RX would like covered in future issues, please get in WRXFKZLWK\RXUXVXDO6FUXWWRQ%ODQGFRQWDFWb
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