Issues Around Being a CIS Sub-contractor
The normal rules for Self Assessment and Self-employment apply to anyone working under CIS. There however some things to be aware of:
- Not registering with HMRC for CIS, this could result in having a tax deduction of 30% from your pay.
- Self-employed status, new legislation has been introduced to identify the employment status of those who work under CIS. However it is the responsibility of the person paying you to establish this.
- Most people working under the construction industry will use the services of an accountant. You should take care in choosing who you use there are many unscrupulous accountants who will promise tax refunds often in terms of thousands. If it sounds to good to be true it probably is so avoid these types of accountants, it will cost you not them in the event HMRC investigate you.
- Identity theft, you must keep your details safe including your UTR number, a growing number of criminals are operating on building sites to obtain information which then allows them to make fraudulent tax refund claims to HMRC.
Tax Advantage Services
Tax Advantage offer a fixed fee service this includes accounts, preparing and submitting your Tax Return to HMRC.
Everything is done by post, email and telephone.
Contact us now for a hassle free, quick service.
*This is for applications made prior to 31st October, after this date a £10 month incremental charge will be added.
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