What is cis and trading income?

CIS is a scheme in the UK, issued by HM Revenue and Customs (HMRC), for mainstream contractors and deemed contractors in the construction industry. The registered contractor will have to make deductions from their subcontractor's payments and pay that money to HMRC. The scheme applies specifically to the UK.

Take a look at our handy guide to the Construction Industry Scheme. in the building trade for a while and want to make the move from PAYE to CIS, the If you're registered for the scheme, you will have a 20% tax deducted from your salary.

But what if you decide to switch from PAYE to CIS? ways, and if you don't know the difference you can't maximise your post-tax income at the end of the year. You can register for CIS as a Limited Company, a Partnership or a Sole Trader.

The Construction Industry Scheme (CIS) is a scheme that HMRC uses to collect Income Tax from subcontractors who work in the construction industry."Missing: trading | Must include: trading

... self-employed in the building or construction trade, then you should pay tax under the Construction Industry Scheme (CIS). The Low Incomes"Do all workers in the... · What happens if I register... · How is tax paid under the...

Under the Construction Industry Scheme ( CIS ), contractors deduct money from a subcontractor's payments and pass it to HM Revenue and Customs ( HMRC )."Construction Industry Scheme (CIS)"Who counts as a contractor or subcontractor"Work covered by CIS"Your business is based outside the UK

Sole traders and partners. At the end of the tax year, send in your Self Assessment tax return as usual. You should record: HM Revenue and Customs ( HMRC )