Construction Industry Scheme(CIS)

The construction industry in the UK is facing an evident workforce and skills shortage. The lack of skilled workers is hindering building projects, increasing costs and impacting the quality of finished works. The sector requires more than 250,000 additional construction workers for the next 3 years.

Reliable and trained contractors and subcontractors are currently in high demand.

Therefore, the  Construction Industry Scheme applies to contractors and subcontractors in the UK construction industry.

The Construction Industry Scheme(CIS) requires contractors to make tax deductions on behalf of their subcontractors and these deductions are advance payments counting towards the subcontractors’ tax and National Insurance, spreading the payments out over time instead of one lump sum at the end of the tax year.

Angels Finance & Management Group Ltd is providing all the necessary advices and assistance for CIS registration, payroll management, CIS reporting to HMRC, Tax computation for contractors and tax returns(Self-Assessments) for subcontractors.