The CIS, acronym for Construction Industry Scheme, set the payment rules for the construction industry subcontractors. Although this scheme mainly applies to construction-only companies, other entities with a high spend on construction also fall under CIS.
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CIS applies in all the following cases in the construction industry:
This scheme also applies to labour agencies, property developers and gang leaders. CIS may apply also to non construction companies (housing associations, local authorities etc.) spending more than £1 million a year on construction operations. CIS applies to all companies working in the UK (also the ones based abroad).
In order to pay someone else or getting paid under CIS, some rules need to be respected. Target online CIS management services help both contractors and subcontractors with targeted advice on CIS obligations and online operations. Our experienced London accountants helped several companies with CIS related paperwork and management.
What are the types of work falling under “construction operations”? In this case construction is defined as everything related to “building/making/assembling things”.
Here a list: