HM Customs & Revenue has agreed to postpone the introduction of a new online tax collection system for subcontractors for another year, alleviating fears that the UK construction industry will descend into "commercial chaos" if the scheme is implemented too early, the Financial Times reports.
Treasury Minister John Healy has said that the full implementation of the new system, first legislated in 2004, will now not go ahead until 2007 at the earliest.
The construction industry has been warning that it would not be able to cope with the proposed changes if they went into effect into April 2006.
The industry has protested that this timescale would not allow firms to have the appropriate software system in place on deadline, let alone test the systems adequately.
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