We work with our clients to help them maintain the benefit of a self-employed workforce. The Construction Industry Scheme can provide:
- Simplified Tax Payments: With tax deducted at source, subcontractors do not need to pay large sums at the end of the tax year, as their tax contributions are made incrementally.
- Improved Creditworthiness: Subcontractors under CIS receive a record of continuous income, which can be helpful for mortgage applications or securing other forms of credit.
- Potential Tax Refunds: If subcontractors are overtaxed (e.g., due to allowable expenses), they may be eligible for tax refunds at the end of the financial year.
- Legitimacy and Compliance: Subcontractors working under CIS are registered with HMRC, which enhances their reputation as legitimate and compliant workers in the construction industry.
- Easier Financial Management: The regular deductions help subcontractors manage their finances more effectively, avoiding large lump-sum payments during tax season.
