CIS Payroll IR35
What does the term CIS mean?
‘Construction Industry Scheme’.
HMRC Rules IR35 for the construction industry, how will this affect me as a CIS contractor?
Payments made by contractors to subcontractors for construction work.
If you are a sole trader or operate through a limited liability company, working in the construction business, you may need to register with HMRC under CIS. The Scheme applies to contractors, subcontractors and any organisations that spend a lot of money on construction, even if construction is not their main industry. It covers groups such as builders, gang masters, foremen, property developers, labour agencies and staff bureaus.
New IR35 Rule, will this affect me as a CIS Contractor?
The new IR35 rules affect the Construction Industry Scheme(CIS) at the government department/public sector. With the new public sector IR35 rules, the CIS tax regime does not apply. IR35 has ended the construction Industry Scheme tax regime for CIS contractor working with the public sector. Gross Income received from sole trader register with HMRC and director of limited company working under the Construction Industry Scheme in the public sector will be subject to income tax and national insurance.
YES, We can help
Senigpay ltd (Umbrella and payroll services) is registered for gross pay test. CIS workers gross payments can be made to us. contractors will not need to worry about 20% CIS deduction, Deductions to HMRC through income tax and National insurance will be calculated and filed and paid to HMRC using our payroll software, net pay will be paid into your contractor bank account.
Employee will be able to claim income tax relief on the following expenses charity donation, training and subscription through self-assessment return at the end of the tax year. Also claim income tax and national insurance relief on mileage expenses from work place to temporary place of work, but will not be able to claim relief on mileage expenses from home to work.
Do you think we can help? Please visit our website, fill in the contact form and we will get back to you immediately. Or call us on 01279772966