In short, the Construction Industry Scheme (CIS) allows a deduction of taxes at the source from payments in the construction sector. The purpose of the scheme is for HMRC to raise more revenue. The CIS has nothing to do with payments to staff. They're covered by the Pay As You Earn (...
CIS is a scheme in the UK, issued by HM Revenue and Customs (HMRC), for mainstream contractors and deemed contractors in the construction industry. The difference between the two is that the principal activity of mainstream contractors is construction. ...
If you’re in the construction industry (or planning to be), you’ve likely heard people mention Construction Industry Scheme (CIS) tax. This is a separate tax scheme that all in the construction industry must follow. If you need clarification on what it is, why it exists, or how it wo...
you're a CIS subcontractor registered under the Construction Industry Scheme There could be other cases that might require you to get a UTR number and file a Self Assessment tax return. If you're not sure whether you need one, check out the official UK government website or talk to a ...
Damp and Mould Guidance: What Building Industry Contractors Need to Know The reality is this: Not every landlord in England is positioned to deliver this kind of service. Building professionals of all types need to be prepared to inform and provide the services that landlords now know th...
He appealed against HMRC’s decision to cancel his registration for gross payment under the construction industry scheme. Under the scheme, sub-contractors can receive gross payments from contractors without deduction of the 20% levy, provided they have met their compliance obligat...
Construction Engineering Nursing Science subjects Technology Textile design Another diploma type that may prove useful is the Certificate of Higher Education (CertHE), which is an academic qualification, rather than a vocational one. A CertHE is similar to a HNC as a level 4 qualification and only...
Employer Payment Summary (EPS) and Construction Industry Scheme (CIS) Suffered If you’re a subcontractor, you can claim back the CIS tax deductions your customers make from their payments to you. All you need to do is send a monthly EPS to HMRC, showing the CIS deductions for the year....
Like all contracts, construction contracts are about the prior allocation of risk.Windward (1991) draws attention to the construction industry’s need to makea profit on the employment of capital: ‘If risk is an essential ingredient of the system which generates your profit,it is inevitable that...
The “reference” mentioned above is known ascold junction compensation. The measuring end of the sensor is called the“hot joint”(the junction of the dissimilar metals used in the construction of a thermocouple), while the other end - where we receive the signal - is thecold junctionof the...