Are you in Construction? need a little reminding of the CIS Scheme?

As you probably know The Construction Industry Scheme (CIS) is a tax scheme created by HM Revenue & Customs for contractors and subcontractors.  Now remember CIS rules apply to all payments made by a contractor to a subcontractor under a construction contract, but does not apply to employees.

So what happens?

Under the CIS scheme contractors deduct money from a subcontractor’s payments and pass it to HMRC – contractors act as the middle men.