A CIS monthly return contains the details of each subcontractor paid. We will show you how to complete and submit the monthly returns. Contractors need to be aware of their obligations under the construction industry. They must ensure that the […]
What is a CIS Monthly Return and How to File with HMRC? Read More »
A payment and deduction statement is the document which proves how much CIS tax has been deducted by the contractor. When a contractor deducts the CIS tax, they must provide the subcontractor with a CIS payment and deduction statement. This
To ensure the correct tax is deducted contractors must complete a subcontractor verification. We will explain how to complete this process. Before a payment is made by a contractor they must complete a CIS subcontractor verification. This then povides the
What is reverse charge VAT for the Construction Industry? This simple tool will inform you when to apply reverse charge VAT. It applies to all businesses within the construction industry. We have also included detailed analysis and examples of the
Qualifying CIS materials don’t suffer any CIS tax deductions. What materials qualify and the pitfalls you need to avoid? The general rule with CIS is that you must apply a CIS tax rate to the labour on a subcontractors invoice.
Qualifying CIS Materials In The Construction Industry Read More »
We show a couple of CIS Calculation examples on how to calculate the CIS tax on a invoice. It includes labour, materials and VAT. In this blog we have a couple of CIS calculation examples. The first example is where
CIS Calculation Example – How to Calculate CIS Tax? Read More »
This calculator will calculate the CIS tax deductions. An easy to use calculator that includes tips to ensure you deduct the correct CIS tax. Contractors can use this CIS tax deduction calculator to work out the correct deductions to make.
With gross payment status there are no deductions made by contractors. This improves cash-flow, business reputation and paperwork! Not all businesses can qualify for gross payment status. To qualify you need to pass a turnover test and other criteria set
How do you register as a subcontractor? We explain the process for all business types including Companies, Partnerships and Soletraders. Subcontractor registration is voluntary. Businesses pay a lower CIS tax rate if they register, therefore registration is advised. We will
We explain how you can register your business as a contractor for CIS. When do you need to register as a contractor with HMRC? Many businesses find the construction industry particularly confusing. One such area is that of who is