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Construction Industry Scheme (CIS)

in Reporting and Analytics for ERP

Summary:Construction Industry Scheme (CIS)
Under the Construction Industry Scheme (CIS), contractors deduct money from a subcontractor’s payments and pass it to HM Revenue and Customs (HMRC). (Her Majesty's Revenue and Customs)

The deductions count as advance payments towards the subcontractor’s tax and National Insurance.

Contractors must register for the scheme. Subcontractors do not have to register, but deductions are taken from their payments at a higher rate if they’re not registered.

We need this information, there are a Localization to setup and show this information for UK?


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