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.
I am currently a CIS sub-contractor who suffers a 20% deduction on my income.
I want to take on two sub-contractors.
do all property developers however small have to register for CIS?
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.
Why is it?
Client - whose tax is being done by someone else - has just told me he was reg as CIS contractor back in Nov.
Client engages several subcontractors. Calculations correct on all apart from one particular chap.
I have submitted the final eps for 14/15 and agreed all the entries back to the monthly statements,
Just wanted to check I am about to deal with this correctly:
Hi we had a subcontractor client approach us in November last year saying he had four years tax returns outstanding and that HMRC were chasing him for some £16k in tax.
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