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Paydays CIS Payroll
The Construction Industry Scheme (CIS) can apply to all types of businesses that work in the construction industry within the UK. These include:
- Self-employed individuals working as sole traders
- Limited liability partnerships (LLPs)
As well as traditional construction businesses like builders, the scheme can also apply to businesses like:
- Labour agencies and staff bureaus
- Gangmasters – or gang leaders
- Property developers
Under the Scheme, all payments made from contractors to sub-contractors must take into account the sub-contractors tax status, determined by HMRC. This may require the contractor to make a deduction from the sub-contractor’s payment in order to pay it to HMRC.
The new Construction Industry Scheme dispenses with the need for registration cards, certificates and vouchers, replacing them with electronic registration via HMRC’s Gateway (already used for PAYE returns).
The deduction rates for the scheme are 20% for sub-contractors registered with HMRC for payment under deduction and 30% for those not registered.
Why Paydays CIS Payroll?
Payday Payroll Ltd are registered with HMRC for CIS.
We will send you a monthly summary of gross and net payments made.
As part of our additional services Payday Payroll partner company accountants can help prepare your year-end tax return for a small additional cost.
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