The Construction Industry Scheme (CIS) sets out special rules for tax and national insurance (NI) for those working in the construction industry. Businesses in the construction industry are known as ‘contractors’ and ‘subcontractors’. They may be companies, partnerships or self employed individuals.
The CIS applies to construction work and also jobs such as alterations, repairs, decorating and demolition. At MRJ & Co. We provide a number of services to assist businesses and individulas in the contrusction industry to comply with the rules and regulations of the scheme. We provide:
- Assistance to register with the HMRC as a sub-contractor to obtain your CIS status/UTR number (Unique Tax Reference )
- Assist you with registering for National Insurance
- We provide invoicing and collection services
- We will register you or your business for VAT if you earn or expect to earn the VAT registration threshold
- We will register you for the VAT Flat rate scheme and monitor the amount of VAT you need to pay and submit the VAT return to HMRC