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Contractors face tax fine


HM CUSTOMS and Revenue is chasing up contractors to file their tax returns by the end of this month to avoid a £100 penalty.

The Revenue is targeting the industry because it has one of the worst records for late return of selfassessment forms.

The latest sector-by-sector figures show that the Revenue slapped 50,970 penalties on those working in construction for missing the January 31 deadline in 2001 ? netting over £5 million.

The industry has a compliance rate of 92.7 per cent, making it the third-least compliant sector behind hotel and catering staff and barristers.