s pay and then pay that money to the HMRC. For this reason, by CIS definition, a contractor is anyone who hires subcontractors, and a subcontractor is anyone who gets hired by a contractor. You should also bear in mind that these deductions count as advance payments towards the ...
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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 paying your subcontractor, regardless of whether you have to pay th...
So, whether you’re living in the UK or abroad, registering for CIS is a smart idea. You can even apply for gross payment status at the time of the CIS registration process, if you want contractors to pay you in full, without any tax deductions. Can I have 2...
United Kingdom: TheHMRCrecommends you keep invoices for 6 years from the end of the last financial year they relate to. You should keep them for longer if you meet certain criteria. Using invoice numbers properly is important for keeping your business organized and making sure you get paid on...