As an employer operating PAYE as part of your payroll, you need to complete certain tasks during each tax month.
Tax months run from the 6th of one month to the 5th of the next one.
The Construction Industry Scheme (CIS) is a tax deduction scheme which involves tax being deducted at source from payments which relate to construction work.
CIS does not apply to payments made to employees, since payments to employees are covered by the Pay As You Earn (PAYE) system of deduction of tax at source.
Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractor's payments and pass it to HMRC. If you are self-employed and you are working in the Construction Industry you can work without a UTR & CIS, however this will affect how much tax you pay.
You will pay 30% tax without a UTR & CIS and this will reduce to 20% when your UTR & CIS are activated.
We are here to help you providing monthly payroll and CIS for your business.