CIS Payments

[jason121]

Any of you here that are LTD have you been told to fill out CIS returns for scaffolding firms that are also LTD

 

[Worcester]

Been doing it for ages, once you are CIS registered, it doesn't matter whether they are limited or not.

 

[jason121]

Going to swap my tool box for a pen

 

[Worcester]

Welcome to world of Renewables, MCS, HMRC, REAL, OFGEM, DECC ......

 

[BruceB]

I did ask HMRC in writing whether I needed to be CIS for solar PV, but their interpretation of the legislation was an unequivocal YES. Penalties for getting CIS wrong can be cruel, so get up to date quick.

 

[Octopus]

And HMRC wonder why there is so much cash work in construction!! CIS is a real pain for a small business.

 

[Somecamel]

I've recently had to deal with CIS, first commercial job, they're deducting 20% etc. (ouch)

I did read though that they should only technically be deducting the 20% off the labour, Might be worth popping this over to the SL

 

[finchy]

Agree a right pain for small businesses, make sure you submit your monthly returns ! They like fining, we had a to-do over a nil return some 2 years back it turned into a £600 fine (basically a 6 month nil return wasn't registered correctly).

Basic accounts packages do all the CIS for you even online submission, yet another admin cost....hence why companies offering stupidly low installation costs can not survive !

 

[sedgy34]

get a good bookkeeper or accountant pay them to do it, just get on with what you do.

 

[moggy1968]

CIS is a real pain, I've had several fines for late returns!
yes, scaffolders are subject to CIS.
you deduct 20% for labour, and, rather bizzarely travel but not masterials so encourage your subbies to load up their materials and reduce the labour element.
If your subbies aren't registered at 20% you deduct 35%
I had one say he didn't have to be registered because he was a limited company, this is WRONG, everyone working as a subbie must be registered as a contractor but you only need to make a monthly return if you are a main contractor using subbies.