CIS

The Construction Industry Scheme (CIS) plays a significant role in how taxes are handled within the UK’s construction sector. Under this scheme, contractors deduct money from subcontractor payments and pass it to HMRC. These deductions act as advance payments toward the subcontractor's tax and National Insurance contributions. While CIS simplifies [...]

The Construction Industry Scheme (CIS) is a UK government initiative designed to regulate tax payments for contractors and subcontractors working within the construction sector. If you are a subcontractor, understanding how to register for CIS is crucial to ensure compliance with HMRC, avoid penalties, and ensure proper tax treatment of [...]

The Construction Industry Scheme (CIS) is a system established by HMRC to regulate how contractors in the construction sector handle payments to subcontractors. Under CIS, contractors are required to deduct tax at source from subcontractors' payments and submit it to HMRC. This system helps ensure subcontractors pay their fair share [...]

What is CIS for Contractors The Construction Industry Scheme (CIS) is a tax regime introduced by HMRC to regulate payments made to subcontractors working in the construction industry. The CIS applies to both contractors and subcontractors and outlines the rules on how payments for construction work should be handled, specifically [...]

Welcome to the Construction Circus! Ah, the construction industry—a world where hard hats meet even harder regulations. Among the many mysterious documents floating around, the CIS statement stands out like a crane on a construction site. But what is it, really? Let’s embark on a journey to demystify the CIS [...]