01-Jun-2016
When Should Subcontractors Seek A Refund
Adopting this legal business structure is popular as it’s ideal for small startups that want keep operating costs low and have a hands-on approach to the daily running of their business.
If you are a contractor or subcontractor working within the Construction Industry you must comply with the special tax rules and methods for handling payments set out in the Construction Industry Scheme. Failure to do so can result in significant penalties from HMRC.
The Construction Industry Scheme (CIS) provides contractors with prescribed guidelines for the hiring and paying of subcontractors. At Robert Lewis, our team is highly experienced in dealing with CIS tax and the construction industry as a whole. We can provide the advice, guidance and ongoing support you require to ensure you remain in compliance.
Our services include;
The Construction Industry Scheme obliges subcontractors to register with HMRC and immediately notify them of any changes to their business including their business address, business name and business partners.
If you are a subcontractor, each time you are hired by a contractor, they must decide whether you are self -employed or an employee. A self-employed status will result in your registration as a subcontractor under CIS – slightly different to classification as self-employed under UK personal tax .HMRC will set you up to receive payments under deduction and contractors will deduct tax at 20 per cent from your invoices and pay this to HMRC.
At Robert Lewis, our CIS tax accountants will provide the advice and guidance you need to fully understand your status and comply with regulations.
Our services include;
For further information on CIS Contractors, please contact our team on:
[email protected]01268 271 234
I have to say that both of us would have no hesitations in recommending your company to anyone who needs tax advice, not only for your down to earth approach, but your professionalism as well.
Julie Bell
01-Jun-2016
Adopting this legal business structure is popular as it’s ideal for small startups that want keep operating costs low and have a hands-on approach to the daily running of their business.
19-Apr-2016
This month, we are celebrating 10 years in business. We have been fortunate enough to win a host of awards and have grown over the last decade to offer a variety of services.
06-Apr-2016
Every April it’s typical for business networking groups and meetings with your accountant to centre around new government changes that affect a variety of tax, business and investment issues.