The Construction Industry Scheme (CIS) identifies special rules for tax and National Insurance for taxpayers working in the construction industry.
The scheme is a minefield of regulations; meaning it is relatively easy to fall foul of the strict rules in place and even easier to incur penalties.
The scheme applies to all businesses who operate within the construction industry. That includes builders, tradesman, recruitment agencies who supply workmen, property developers and more. It is important that all contractors operate correctly as the penalties for non-compliance can be very expensive.
Businesses in this industry fall into one of two categories: Contractors or Subcontractors.
A contractor is a business or other concern that pays subcontractors for construction work, whereas subcontractors are those businesses that carry out the work on behalf of the contractors. These may be companies, partnerships or sole traders.
CIS investigations can be stressful and lengthy, putting extra strain on your business and personal life.
KinsellaTax will take complete control of your investigation letting you get back to what you do best – running your own life. We battle with HMRC daily on behalf of our clients so we know exactly how to deal with them.
Throughout your investigation, we work for you and we fight for you!
Read more information about CIS regulations here.
Call KinsellaTax now on 0800 471 4546 to speak with one of our specialists.