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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 […]

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CIS contractors CIS subcontractors Construction Industry Scheme (CIS) COVID-19 PAYE Taxation Services The Coronavirus Job Retention Scheme UK Taxation

COVID-19: Construction industry furlough claims rejected

COVID-19: Construction industry furlough claims rejected as ineligible. Why are claims by construction companies for furloughed staff being rejected as ineligible? One of the qualifying criteria for claiming 80% of the salaries of furloughed employee under the Coronavirus Job Retention Scheme (CJRS) is that the employer must have operated a PAYE scheme prior to the […]

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CIS contractors CIS reverse VAT CIS subcontractors Construction Industry Scheme (CIS) Taxation Services

Fraud and the VAT Reverse Charge

This article entitled Fraud and the VAT Reverse Charge is meant to provide an insight into the changes coming into force on 1 October 2020. HMRC considered fraud prevention as the primary reason for introducing the VAT reverse charge to the construction and building services industry. The VAT Reverse Charge which was initially planned for […]