Are You Operating CIS Correctly?
Posted on 16th February 2022 at 15:00
Over the last year we’ve shared some guides on how CIS and the VAT Domestic Reverse Charge may affect your business. The DRC has now been in place for almost a year, so we thought it would be a good idea to check that you’re up to speed and operating CIS correctly.
CIS is an HMRC scheme which applies if you work for a contractor in the construction industry on a self-employed basis. In short, it means that the contractor will usually be obliged to withhold tax on its payments to you. This is to ensure that tax is paid in full to HMRC, as the construction industry in particular has historically seen numerous problems with tax payments.
Ask us for CIS advice
The best way to ensure that you’re operating CIS correctly is to get in touch for a quick chat, as we can discuss the nature of your business and determine whether you’re dealing with VAT in the right way. To get started, please call our Yorkshire office on 01482 235575, our London office on 0207 885 0605, or fill in the contact form below.
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