We can register you for the Construction Industry Scheme (CIS) if you work for a Contractor and are one of the following:
• Ltd Company
Under CIS, a contractor must deduct 20% from your payments and pass it on to HMRC. These deductions count as advance payments towards your tax and National Insurance bill.
If you don’t register for the scheme, contractors must deduct 30% from your payments.
If you are a Ltd Company, we can apply for you to be paid Gross, however the Company must pass certain criteria in order to qualify for this.
You must register as a contractor with the Construction Industry Scheme if you pay subcontractors to do construction work (this can include heating and plumbing etc).
You may be a sole trader, ltd company or in a partnership.
• You must register for CIS before paying a subcontractor.
• You must check whether you should be employing that person if they are only working for you.
• Check with HMRC that your subcontractors are registered with HMRC and get them verified.
• File monthly returns and keep accurate records
We can take care of all the above, please contact us to discuss your requirements.