CIS - subcontractors
We can help to determine your status as a subcontractor or employee, (or both) and register you with HMRC accordingly.
Once registered we can:
Verify you with HMRC on behalf of your contractor
Organise and manage your business records
Prepare your Tax Return and keep you up to date with your tax liabilities
Contractors that you work for must determine whether or not you are to be treated as employed or self-employed for each and every contract. If you are an employee for the purpose of the contract, the contractor will need to put you through the payroll as such, and you will receive normal weekly/monthly payslips.
If you are self-employed, HMRC will register you as a sub-contractor under the CIS scheme and they will set you up to receive payments 'under deduction'. This means contractors must make a deduction of tax at 20% (30% for unverified subcontractors) from the labour element of your invoices and pay it over to HMRC. We will make sure that you understand your responsibilities and keep you on track with the regulations.