64K views · 94 reactions | Get that cosy feeling and find your inner peace. Do your Tax Return before 31 January. | HMRC | Facebook
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What you must do as a Construction Industry Scheme (CIS) contractor
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Part Two - What is CIS tax👷🏼‍♂️ Essentially when working under the CIS scheme, your contractor will deduct tax from you and pay it to HMRC on your behalf. If you are not registered, they will deduct 30% of your total income from you. If you are registered, they will deduct 20%. There is a 0% option but this is not available to all. This tax deduction is paid to HMRC and will therefore lower your tax bill. Drop us a message if you need any help or guidance! #CIS #constructionaccountant #soletra
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