The Construction Industry Scheme (CIS) sets rules for how construction companies and their subcontractors manage taxes and payments. It applies to various types of work, including building, civil engineering, and demolition.
If you are a contractor or subcontractor in construction, you need to comply with CIS regulations. This means registering with HMRC and obtaining a CIS certificate, whether you are a limited company or self-employed.
Contractors must deduct 20% from payments to subcontractors and send this amount to HMRC. Subcontractors are responsible for keeping records of these deductions.
At Sigma Accounting, we simplify CIS compliance. We help with registering for the CIS, calculating and making deductions, preparing, and submitting returns, and resolving any issues that arise. Let us manage the complexities of the CIS so you can focus on your business.