CIS is short for Construction Industry Scheme. It’s HMRC way of collecting income tax from people who work in and around the building industry as subcontractors rather than employees.
A monthly return. All contractors must complete and submit a monthly return to HMRC regardless of whether or not you have actually made payments in the preceding month. While both payments operate independently of each other the records are merged for verification requests and monthly returns to HMRC.
All subcontractors are responsible to pay for their own National Insurance.
All subcontractors are asked to provide proof that they are eligible to work in UK before we can engage their services. We will request a copy of their passport or driving license.
A dedicated consultant available on a daily basis to assist and advise on any queries, providing updates on all the recent HMRC legislation changes.
Yes, Subcontractor will be tax at 30%. At the end of the financial year, they can claim back the remaining amount.