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Understanding HMRC CIS: A Complete Guide for Contractors and

If you work in the construction industry as a contractor or subcontractor in the UK, you may have heard of the HMRC CIS (Construction Industry Scheme) [url=]hmrc cis[/url]. HMRC CIS is a tax deduction scheme for the construction industry that requires contractors to deduct money from a subcontractor’s payments for tax and national insurance contributions. In this guide, we will take a closer look at the HMRC CIS and everything you need to know to comply with its regulations. What is HMRC CIS?The Construction Industry Scheme (CIS) is a scheme run by HM Revenue & Customs (HMRC) for the construction industry. Its main purpose is to ensure that subcontractors pay the right amount of tax and National Insurance contributions.

category: Business > Business-finance > Accounting

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