How to register for the construction industry scheme (CIS)? All contractors should register with HMRC for CIS. If you are a subcontractor, you should still register with HMRC even if you would like to opt out of higher deductions. Contractors When to register: Register when you plan on payin...
When you send an invoice to your contractor, you can choose the services which come under CIS. Here’s how:Create a new invoice. After filling in the necessary details, check Covered by CIS? checkbox if a service comes under CIS.Zoho Billing will automatically calculate the deductions using ...
It's worth checking out the employment status of your assistant. They might not be able to satisfy self-employment tests. Which means you might not need to register yourself as a contractor. Employment status must be taken into account before you apply the CIS. However, when you're a self...
When you include income from a 1099-MISC on Schedule C of your tax return, you may also need to file a Schedule SE to report the self-employment taxes you owe on your net profit. These taxes cover the Social Security and Medicare programs. However, you do get to deduct ...