Construction Industry Scheme Articles

Contractors and CIS

The Construction Industry Scheme (CIS) imposes special rules for tax and National Insurance on those working in the construction industry. Businesses, termed 'contractors' and 'subcontractors,' should actively consider the tax implications of the scheme. Under the scheme, contractors must deduct money from subcontractor payments and remit it to HMRC. These deductions serve as advance payments...

CIS contractors monthly tax chores

The Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance. They are for those working in the construction industry. Businesses in the construction industry are known as 'contractors' and 'subcontractors' and should be aware of the tax implications of the scheme. Under the scheme, contractors are required to deduct money from a subcontractor’s payments and...

The Construction Industry Scheme

The Construction Industry Scheme (CIS) is a set of special tax and National Insurance rules for those working in the construction industry. Businesses in the construction industry are known as 'contractors' and 'subcontractors' and should be aware of the tax implications of the scheme. Under the scheme, contractors are required to deduct money from a subcontractor’s payments and pass it to HMRC....

Company filing obligations

It is important that anyone responsible for the accounts and tax filing regime for private limited companies is aware of...

Inheritance and tax

As a general rule, an individual who inherits property, money or shares is not liable to pay tax on the...

Labour win landslide election result

As had been widely predicted, the results at the polls have seen the Labour Party back in power after 14...

Exit plans

Exit can be seen as quitting, especially if the exit discussed is your business interests. But actually, business exit planning...

New government

Our new government, and in particular, Rachel Reeves, the new Chancellor, will be responsible for raising the funds that our...

Statutory redundancy pay

If you have been in the same job for two years or more and are made redundant you will usually...

Claim full expensing or 50% FYA

Full expensing offers a 100% first-year capital allowance for qualifying plant and machinery assets, reducing taxes for companies subject to...

Late night taxi for an employee

Employers have a duty of care to ensure employee wellbeing, which can include providing transport home during unsocial hours. While...

Income Tax in Scotland

The Scottish rate of income tax applies to non-savings and non-dividend income of Scottish taxpayers, defined by their close connection...
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