Registering as a contractor for CIS.

[Dunc]

Has anyone here registered as a contractor for the CIS scheme? Got a job coming up that needs rattling out quick so getting a couple of subbies in to blitz it so am having to register as a 'contractor' to pay their tax. I've just filled out the email form on the HMRC website so just wandering how long it takes to get everything in place. Once it's all done how easy is it making payments on your subcontractors behalf etc? Is it all done online these days? Any info would be greatly appreciated.

 

[durhamspark]

Pretty painless really.It should only take a few days if that and then it's just a case of doing a monthly return and making the payment once a month to hmrc.All done online.

 

[Deleted member 26818]

If I remember correctly, you have to first register as an employer, with the section that deals with PAYE/CIS.
Then once you recieve your UTR number, registering with the CIS people is prety straight forward, and can be done over the phone.
Then when you employ a Subbie, you phone the CIS help line to verify the Subbie's status, and they will tell you how much Tax to deduct 0%, 20% or 30%.
Then monthly from the start of the tax year, you have to fill out I believe it's called a CIS300, detailing how much you have paid out, to whom and how much tax you have deducted. You have about 10 or 11 days to return this form otherwise you will be fined £100. You have to fill it out and return it even if you don't employ anyone, for as long as you're registered.
If you fill it out On Line, they will stop sending out the forms, so you will have to remember each month to go On Line and submit it.
Then every three months, you will have to send the deductions to the PAYE/CIS department that you first registered with.
Again, if you are late, you can be fined £100. They are not as bad as the CIS for this, the CIS will send out the fine automatically, and every month they don't receive it another £100 fine. Of course, you can't fine them if they fail to send out the form.