Introduced by HMRC, the Construction Industry Scheme (CIS) is a tax deduction with the fundamental objective of regulating payments made from contractors to subcontractors in the construction industry. With the CIS, the government ensures that the subcontractors fairly contribute towards their tax obligations. Moreover, the CIS effectively prevents tax evasion [...]
As the name suggests, the Construction Industry Scheme is meant to regulate the dynamics within the construction industry. The Construction Industry Scheme (CIS) is a tax deduction scheme that the UK government established to regulate how payments are made in the construction sector. Its prime purpose is to promote fairness, [...]
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