CIS - how do you handle it?

[Italy]

you are in bad shape, worse than in Italy

 

[AndyV]

Thanks to the other Andy's and Pete. It's as I thought and read on HMRC website - but it does seem such a lot of extra work especially for smaller traders. I'd be surprised if many aren't even aware of CIS.

 

[Spare Tool]

you are in bad shape, worse than in Italy

So how does having a scheme in order for correct tax to be paid by the self employed put us in bad shape?

 

[peteablard]

I think it's a good thing, I only work for builders so everything gets taxed. I also get a nice rebate every year about £3-4k

 

[Andy Allen]

I'm not knocking it one bit....just thought I would share my experiences with builders.....should imagine most can't be bothered with the extra paper work ..

 

[White Room]

Types of CIS cards in the Construction Industry Scheme | The Tax Blog - http://www.taxfile.co.uk/2008/04/types-of-cis-cards-in-the-construction-industry-scheme/

 

[Italy]

So how does having a scheme in order for correct tax to be paid by the self employed put us in bad shape?

Here invoices between self-employed craftsmen and companies, all without VAT, those who pay, must pay VAT. no responsibility for those who will invoice.
only vat I have to pay to the state, is that I get from invoices to private customers.

 

[peteablard]

I'm not knocking one bit....just thought I would share my experiences with builders.....should imagine most can't be bothered with the extra paper work ..

Its hard work mate, especially if you're working full time and trying to do the paperwork. You get fined if the return is late, you have to pay even if you haven't been paid yet. I had 6 subbies of the go a couple of years back, never again!!

 

[Spare Tool]

Here invoices between self-employed craftsmen and companies, all without VAT, those who pay, must pay VAT. no responsibility for those who will invoice.
only vat I have to pay to the state, is that I get from invoices to private customers.

Oh ok...very different then, VAT goes on materials here not labour

 

[peteablard]

Oh ok...very different then, VAT goes on materials here not labour

It goes on everything