CIS | AccountingWEB

CIS

Wendy Bradley looks at the draft legislation affecting the construction industry scheme and finds the proposals a bit of an empty shell.

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Dear All,

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Record numbers of builders are registering to be paid gross as delays receiving end-of-year tax refunds escalate, says Daniel Knowles of Nixon Williams.

I would be very interested to hear whether others think a cis scheme is required if someone buys a property to do up and then sell on, initially as a one off, but may lead to others if the first is

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Does anyone have the experience of a Contractor failing to deduct CIS, then being investigated by HMRC?

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Submitting tax forms and paying tax by the due date is important, but should minor non-compliance failures mean a construction company is forced out of business, asks Howard Royse.

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Hi

I am currently a CIS sub-contractor who suffers a 20% deduction on my income.

I want to take on two sub-contractors.

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do all property developers however small have to register for CIS?

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Under the Construction Industry Scheme (CIS), contractors are required to file a monthly return to HMRC and deduct money from a subcontrator’s earnings as advance payments on their tax bill.

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