CIS
Rock provides CIS contracting solutions to the construction industry, allowing businesses to save time and money while ensuring they remain completely CIS compliant by eliminating tax and employment risk.
WHAT IS IT?
The CIS scheme is a tax deduction scheme which is exclusive to 'self-employed' subcontractors whom are working within the construction industry and are registered as such with HMRC. The Construction Industry Scheme (CIS) uses its own special definition of the term subcontractor. So even if you don't normally think of yourself as a subcontractor, you could be treated as one under CIS.
Since April 2007 all individuals that subcontract in the construction industry have to register with HMRC under the CIS scheme and obtain a Unique Tax Reference number. This UTR determines the level of tax to be deducted and paid on your behalf and is used as a payment towards your annual tax liability.
Businesses in the construction industry are known as 'contractors' and 'subcontractors'. They may be companies, partnerships or self-employed individuals.
For the construction industry, labour-only subbies are a valuable asset, essential as a driver of business growth. Here at Rock, we take our responsibilities to you seriously, we deplore false employment and our engagement and paperwork process has been developed to ensure every operative is lawfully contracted. Our process and systems have been fully audited by tax advisors to ensure 100% compliance and protection for our clients.
