CIS

Introduction to the CIS Scheme (Construction Industry Scheme) The Construction Industry Scheme (CIS) is a tax system introduced by HM Revenue and Customs (HMRC) to regulate how payments to subcontractors working within the construction sector are handled. This scheme primarily applies to contractors and subcontractors involved in construction-related work in [...]

Introduction to CIS for Sole Traders The Construction Industry Scheme (CIS) is a tax deduction system introduced by HMRC to ensure that tax is collected from payments made to subcontractors in the construction sector. If you're a sole trader working as a subcontractor, understanding the requirements of CIS is critical [...]

The Construction Industry Scheme (CIS) is a system set up by HMRC to regulate how contractors in the construction industry handle payments made to subcontractors. CIS aims to combat tax evasion by ensuring that tax is collected at source from payments made to subcontractors. While the scheme applies to various [...]

The Construction Industry Scheme (CIS) plays a critical role in the UK's construction sector, ensuring that contractors and subcontractors pay the correct tax on their earnings. A key part of this process is having a CIS Unique Taxpayer Reference (UTR), a number that HMRC issues to individuals and businesses to track [...]

The Construction Industry Scheme (CIS) is an essential tax regime in the UK designed to regulate payments between contractors and subcontractors in the construction industry. Both contractors and subcontractors must register with HMRC under the scheme, ensuring tax compliance and the correct handling of payments. However, CIS registration can be [...]

When operating a business in the UK, particularly within the construction sector, it’s crucial to understand and comply with various tax schemes. Among the most important are the Construction Industry Scheme (CIS) and Value Added Tax (VAT). Although these two systems are essential for maintaining tax compliance, they serve entirely [...]

The Construction Industry Scheme (CIS) is a taxation system specifically designed to manage payments made by contractors to subcontractors working in the construction sector. Under CIS, contractors are required to deduct 20% (or 30% for unregistered subcontractors) from a subcontractor’s payment to cover their tax and National Insurance obligations. This [...]

The Construction Industry Scheme (CIS) is a tax deduction initiative set up by HMRC to streamline tax collection from contractors and subcontractors in the construction industry. Within this scheme, Gross Payment Status stands out as an option that allows subcontractors to receive payments without tax being deducted at source. This [...]

The Construction Industry Scheme (CIS) is a tax deduction scheme established by HMRC specifically for contractors and subcontractors working within the UK construction sector. It ensures that tax is properly deducted from subcontractors' payments before they receive them, thereby simplifying the collection of income tax and reducing tax evasion in [...]

The Construction Industry Scheme (CIS) plays a pivotal role in ensuring that contractors and subcontractors in the UK construction sector meet their tax obligations. Contractors are responsible for deducting money from subcontractors’ payments and passing it on to HMRC. These deductions count as advance payments toward the subcontractor's tax and [...]