Construction Industry Scheme (CIS)
The rules surrounding the Construction Industry Scheme (CIS) are onerous to say the least. Many UK businesses are caught by these rules, even some that do not operate a construction business but who spend significant amounts on building work or repairs. For some businesses, CIS is just a bureaucratic form-filling exercise, however the penalties for not completing the paperwork correctly can be significant. For construction businesses, CIS is like operating a supplementary payroll system, with identification of operations ‘caught’ within the scheme, ongoing verification records for subcontractors, and obligations to withold deductions and make regular monthly returns, causing particular concerns.
Whatever your obligations, emTax consultants can review your processes so that you can adopt best practice methodologies and they can also represent you in any disputes with HMRC.
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