What Is Construction Industry Scheme Cis

This section gives a brief introduction to cis the scheme sets out the rules for how payments to subcontractors for construction work must. The deductions serve as advance payments towards the subcontractor s annual income tax spreading some of their tax liabilities. Under the construction industry scheme cis contractors deduct money from a subcontractor s payments and pass it to hm revenue and customs hmrc the deductions count as advance payments.

administrative law in malaysia book akibat tidak beriman kepada qada dan qadar 2 jenis undang undang di malaysia akta dadah berbahaya 1952 pdf bahasa melayu acknowledgement for final year project report 21st century education in malaysia pdf affin bank annual report 2009 administrative law in malaysia pdf

Oracle Public Sector Financials International User Guide

How To Register For The Construction Industry Scheme Cis

What Is The Construction Industry Scheme Cis Ics Accounting

Construction Industry Scheme Cis Explained Youtube

Construction Industry Scheme Accountants Etc

If you are a contractor employing a subcontractor you must deduct the tax for payments and pay them directly to the hmrc.

What is construction industry scheme cis. You re eligible to register for the scheme if you re a self employed construction worker. If you re a full time employee the scheme does not apply to you. We introduced cis to help contractors that wish to provide services under the construction sector or that are already working within cis. The hmrc construction industry scheme was first introduced as a tax evasion prevention measure in 1972 and an updated cis came into effect in 2007.

The construction industry scheme cis is used by hmrc to collect income tax from subcontractors in the construction industry. The difference between the two is that the principal activity of mainstream contractors is construction. The key elements of the scheme are. With a number of similarities to paye the construction industry scheme cis is a mandatory withholding tax where either 20 or 30 is deducted from a self employed construction subcontractor s payments and paid directly to hm revenue and customs on their behalf.

The construction industry scheme cis was introduced by the government to set rules about how payments are made for construction workers. 1 introduction to the construction industry scheme cis. Cis is a scheme in the uk issued by hm revenue and customs hmrc for mainstream contractors and deemed contractors in the construction industry.