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CIS contractors CIS subcontractors Construction Industry Scheme (CIS) COVID-19 Dividend income Employment income Income tax Non resident landlords PAYE Property income and buy to let (BTL) landlords Self Assessment tax return Taxation Services UK Taxation

Taxing times for UK taxpayers

Taxing times for UK taxpayers are upon us because of Coronavirus. Canalitix Accountants have created a set of income tax calculators and schedules to aid tax payers with their income tax planning. The income tax calculators will focus on the construction industry and buy to let (BTL) property investors. Prior to COVID-19, BTL property investors […]

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CIS contractors CIS subcontractors Construction Industry Scheme (CIS) Income tax Self Assessment tax return Self employment income Taxation Services

Construction Industry Scheme (CIS) Tax Rebate

Construction Industry Scheme (CIS) tax rebates are available to subcontractors. HMRC requires contractors to register for CIS and to verify subcontractors to determine the correct CIS deduction rates. CIS deductions are treated as advanced payments of Income Tax and National Insurance. CIS Deduction Rates Subcontractors registered with HMRC pay the standard 20% deductions, as opposed […]