CIS and self employment - Huh?

legrandefromage · Sep 7, 2012

HMRC site sends me round in circles - I'm already registered as self employed but the people I work for are asking for a CIS number as I am sub contracted out to other firms -

...what and where and how etc etc!

Or should I just wait in the phone queue on Monday morning?

TheGreenRabbit · Sep 8, 2012

CIS just call up get the number, it means you get your money and they send off the TAX for you at 20% unless you are registard for VAT.

EarlofBarnet · Sep 8, 2012

The contractor will make the tax deduction for you (the subcontractor). Best to register for it as the deduction can be defaulted to the higher rate (30%) if you don't register. Otherwise it will be 20%.

The HMRC site will have the CIS340 handbook, which has a good overview of what work will fall in and out of the scheme. Think it starts on page 90-odd.

I've only really done work from the contractor side, but can offer advise from that perspective if needed.

legrandefromage · Sep 10, 2012

cheers chaps - think its sorted

CIS and self employment - Huh?

legrandefromage

TheGreenRabbit

EarlofBarnet

legrandefromage

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