Construction Industry Scheme – tax for builders. It regulates how subcontractors and contractor settle the payments. Both parties are required to registered for CIS.
Register with us before you start work!
Contractor is required to pay the subcontractor and deduct 20% CIS tax for HMRC. If subcontractor is not registered then 30% will be deducted instead.
As subcontractor, you are required to register your business as either self-employed, LTD or partnership and to do a TAX return when financial year ends (6th April to 5th April for those self-employed).
If you need help with filling CIS tax return then please get in touch with our professional accounting office.