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CIS Requirements for Contractors: Everything You Need to Know
The Construction Industry Scheme (CIS) is a key part of the UK’s tax framework, governing how payments are handled from contractors to subcontractors in construction work. As a contractor, it’s vital to understand your responsibilities under CIS—failure to comply can result in expensive penalties and cash flow problems. This guide [...]
CIS Deductions for Gross Payment Status Holders
If you operate in the UK construction industry, you’ll already be familiar with the Construction Industry Scheme (CIS). But even if you hold Gross Payment Status, meaning contractors should pay you in full without deducting tax at source, you might still face issues with CIS deductions. This article explains why [...]
CIS Payments to Subcontractors: Key Considerations
In the complex landscape of UK construction, the Construction Industry Scheme (CIS) plays a pivotal role in ensuring tax compliance among contractors and subcontractors. Administered by HMRC, the scheme mandates that contractors deduct money from subcontractors’ payments and pass it directly to HMRC. These deductions count as advance payments towards [...]
When to Deduct CIS from Payments
Introduction: Navigating the Construction Industry Scheme (CIS) If you operate in the UK construction sector—whether as a contractor or subcontractor—understanding the Construction Industry Scheme (CIS) is essential for staying compliant with HMRC rules. The CIS is a tax deduction scheme that requires contractors to withhold tax from payments to subcontractors [...]
Adjusting Incorrect CIS Tax Deductions
The Construction Industry Scheme (CIS) is a framework established by HM Revenue and Customs (HMRC) to regulate tax payments within the UK construction sector. Under this scheme, contractors deduct money from a subcontractor's payments and pass it to HMRC as advance payments towards the subcontractor's tax and National Insurance contributions. [...]
Top CIS Tax Calculation Mistakes Contractors Must Avoid
For businesses operating in the UK construction sector, managing Construction Industry Scheme (CIS) obligations is a critical but often complex part of staying compliant with HMRC regulations. Whether you’re a contractor hiring subcontractors, or a subcontractor trying to ensure your tax deductions are accurate, navigating CIS tax calculations can feel [...]