The Scheme: construction operations: reverse premiums
|CISR14600||Action guide contents|
Landlords or Developers sometimes offer inducements to prospective tenants to take up an interest in land. It might take the form of a rent-free period, a sum payable on occupation or a contribution to, or payment for, the costs of fitting out the property. These inducements are commonly called ‘reverse premiums’. See BIM41050 onwards for more on the background and treatment of ‘reverse premiums’.
Prior to 6 April 2007, Reverse Premiums came within the Scheme. However, from 6 April 2007, Reverse Premiums are specifically excluded from the Scheme by SI2005/2045 reg 20.
Obtaining advice from the CIS Technical Team
Where you have doubts as to whether or not a contract is caught by the Scheme you should obtain as much information as possible about the particular operations that fall within it and submit the case to your regional contact on the CIS Technical Team (see CISR97090) explaining clearly where the point at issue lies.