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What is the Construction Industry Scheme?

PayTime are registered with HM Revenue & Customs (HMRC), as an Agent to allow us to verify and process subcontractors' pay and to submit monthly returns on a company's behalf.
This will not only save you time and money but it will ensure your returns are submitted on time, everytime.

The Construction Industry Scheme (CIS) sets out the rules for how payments to subcontractors for construction work must be handled by contractors in the construction industry.

The scheme applies mainly to contractors and subcontractors in mainstream construction work, however businesses or organisations whose core activity isn't construction but have a high annual spend on construction may also count as contractors and fall under the scheme.

The scheme creates a great deal of work for companies that fall within the scheme and is full of deadlines and compliancy rulings that can make timeconsuming work for you or your staff. The scheme requires you to spend hours every month, verifying your sub-contractors’ tax bands, calculating their tax deductions and making out Statements of Pay & Deduction with fines of up to £100 if you fail to meet the scheme's monthly submission date. Even if you don't have any subcontractors on your books at the time you still have to file a NIL return which carries the same £100 fine for late submission.

To check whether CIS applies to you visit
http://www.hmrc.gov.uk/cis/intro/decide-if-cis.htm

You can find more out about the Construction Industry Scheme at http://www.hmrc.gov.uk/cis/intro/whatis-cis.htm