The Construction Industry Scheme (CIS) was created in 1999 and it applies specifically to work carried out by a subcontractor for a contractor on 'construction operations' in the UK. As a general guide the term 'construction operation' covers almost anything that is done to a permanent or temporary building structure, civil engineering work or installation including; site preparation, alterations, dismantling, construction, repair or demolition. All subcontractors must be registered with HMRC under the CIS scheme and may have self employment status. If you are self-employed shield can ensure you will be paid on time, have experts to handle your invoices and paperwork and to protect you against falling foul of Inland Revenue requirements so you do not have to worry.
Shield would deduct the appropriate tax on account, and remit it to the HMRC on your behalf. The tax deducted will help avoid large annual tax bills and may even result in a tax rebate at the end of the fiscal year.
With Shield Contract Services you can offset allowable expenses each year end and benefit from reduced NI contributions. Please see our accountancy GOLD package below for the answer to all of your end-of-year tax & expense claim burdens. If you are self employed but not CIS registered and you are about to start work within the construction industry please call the CIS Helpline on 0845 366 7899 or by visiting www.hmrc.gov.uk/cis. If you are not known to HMRC you may need to satisfy an identity check. HMRC will write to confirm your registration and you will be provided with a verification number.
''The Construction Industry Scheme (CIS) was created in 1999 and it applies specifically to self employed workers in the UK's construction market.''
Contact Shield to take advantage of an expert team that is available when you need it to be.
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|Saturday:||8.30am – 6.00 pm|
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