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Home / Simons-Taxes /Personal and employment tax /Part E5 Special classes of individual /Division E5.5 Subcontractors in the construction industry /Construction industry scheme—deductions on account of tax / E5.547AE Construction industry scheme—security for CIS payments—application for reduction in the value of security held
Commentary

E5.547AE Construction industry scheme—security for CIS payments—application for reduction in the value of security held


Personal and employment tax

Provision is made for a person who has given security (PGS) in relation to a construction industry scheme (CIS) payment to apply to an officer of HMRC for a reduction in the value of security that HMRC hold1.

A PGS may apply to an officer of HMRC for a reduction in the value of security held by HMRC if:

  1. Ìý

    •ÌýÌýÌýÌý PGS's circumstances have changed since the day the security was given because:

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