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CIS
Thursday, 21 November 2024
CIS, or the Construction Industry Scheme, is a UK government initiative introduced by HM Revenue & Customs (HMRC) to regulate tax payments within the construction industry. It ensures that subcontractors in the construction sector pay the correct amount of tax and National Insurance contributions. Key Features of CIS Who Does CIS Apply To? Contractors: Businesses
- Published in CIS
Invoicing
Friday, 21 July 2023
Invoicing is the process of creating and sending formal documents (invoices) that request payment for goods or services provided. An invoice acts as a financial record and a legal agreement between a seller (or service provider) and a buyer (or client). It outlines key details of the transaction, such as what was delivered, how much
- Published in Invoicing
Tax Returns
Monday, 21 February 2022
Tax returns for subcontractors refer to the process of declaring income, expenses, and tax deductions to HM Revenue & Customs (HMRC) at the end of the tax year to determine if additional tax is owed or if a refund is due. Here’s a breakdown: 1. Who Needs to File a Tax Return? Subcontractors working under
- Published in Tax
Financial Services for Subcontractors
Tuesday, 21 February 2017
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- Published in Finance