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Construction Industry (CIS)

The Construction Industry Scheme (CIS) has specific laws for subcontractors and contractors who work in the construction industry. The rules are complicated, and HMRC expects that the rules are adhered to. At Suretax we have specialist professional teams with many years of experience dealing with CIS, and we would be happy to discuss your business and the requirements and implications of the CIS.

Suretax can help you if you are a contractor to:

  • Complete the relevant forms and applications to begin operating in the CIS
  • Verify your subcontractors to ensure they have completed the required registrations
  • Ensure all the necessary filings are made, including performing the calculations to ensure your subcontractors are paid correctly
  • Provide your subcontractors with statements that are a prerequisite of the CIS

As a contractor, there are very detailed requirements as set out by HMRC relating to registration, ensuring your subcontractors are registered, deducting tax and paying HMRC as well as paying subcontractors the correct amount. Failure to meet these requirements will result in penalties and possible removing your contractor status, so it is essential the requirements are met.

Suretax can help you if you are Subcontractor to:

  • Register you with HMRC and ensure you are operating with the correct CIS status
  • Verify your status on behalf of your contractor
  • Prepare your self-assessment and ensure you are paying the correct tax, or are receiving the correct CIS rebate if you are due one

As a subcontractor, you must register as such with HMRC. Any changes to your status or business must be relayed to HMRC to ensure you are operating with the appropriate CIS status.

Any contractor has to ensure that they are correctly treating you – as a subcontractor or an employee. There are very different rules for each, so it is imperative that this is done correctly. At Suretax we can ensure that all of your CIS dealings are in order and your Contractor-Subcontractor relationship is operating in accordance with HMRC requirements.

Under the scheme, a contractor will deduct 20% (30% if you are not verified) of the labour element of your self-employed business invoice. This is then passed to HMRC, and at the end of the tax year your self-assessment is calculated, and the tax withheld under CIS forms part of your calculation.  

There may be circumstances when you have ‘overpaid’ tax in which case you will be due a rebate. Alternatively, you may have ‘underpaid’ in which case you will need to make an additional payment to HMRC. Suretax can deal with all of this, and at a very competitive rate.

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