Running your own self-employed contracting business can be time consuming enough even before taking care of the admin. Read our blogs and articles to help you save time, send quotes to secure work more quickly, and automate reminders to help you get paid on time. You’ll also find more information about IR35, and what you need to know about staying compliant.
The Construction Industry Scheme (CIS) is in place to tackle tax avoidance within the construction sector, and means contractors must make deductions from their subcontractors’ pay – also known as ‘advance payments’ towards their tax bill. With this requirement comes good record-keeping, as well as monthly CIS returns to tell HMRC how much you’re paying…
If you’re a subcontractor in the construction industry, then the contractor you work for will normally take CIS deductions from your pay each month, and pay these towards your income tax and National Insurance. In some cases you can opt to handle your taxes independently without the contractor making CIS deductions, but only if you…
If you’re a contractor or subcontractor, you’re likely to have some involvement with the Construction Industry Scheme. While it may seem straightforward when you look at the likes of CIS statements, there’s a heap of record-keeping behind the scenes! Let’s explore the kind of records you should maintain, based on where you stand in the…
If you work in the construction industry and you’re self-employed, you’ve probably encountered the Construction Industry Scheme (CIS for short). The scheme is HMRC’s way of collecting income tax from subcontractors who work in the construction industry. We’ll discuss exactly who is expected to register, how it works, and where you can sign up. …
Contractors are an important part of both the private and public sectors, contributing more than £300bn to the UK economy every year, and covering a range of roles, from HGV drivers to bricklayers, architects to accountants, and engineers to plumbers, to name just a few. IR35 was introduced to help minimise the risk of tax…
