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The Construction Industry Scheme (CIS) is a special scheme in the construction industry whereby contractors deduct money from a subcontractors payments and pass it to HMRC.
As a contractor you must follow certain rules:
Brash & Co can assist contractors with:
As a subcontractor you should register for the scheme if you work for a contractor and you are either self-employed or the owner of a limited company.
Under CIS a contractor must make a deduction from your payments and pass it on to HMRC. The deduction counts as an advance payment towards your tax and National Insurance bill.
If you do not register for the scheme the amount a contractor deducts will be higher than the amount they deduct if you were registered.
Brash & Co can assist subcontractors with:
If you would like more information or would like to speak to us direct then call us on 01704 551889. Or if you would prefer, ask us a question online.