Subbing out

[Gentleman Jim]

Morning all.
I'm fairly new to this profession and things are going slowly. However I have been approached by a small building firm to do a job for them as a sub-contractor. I was asked if I had a UCR number and had to bluff through the conversation quickly. Can anyone help with a brief outline of what this entails.
As always thanks for your help.
Regards
Jim

 

[Dan]

UCR: Unique Consignment Reference

It seems to be replated to international trading and contracting and is a reference number for all correspondance. If i'm looking up the right thing.

Here's a couple of links I found (done it via google cache so you can see the highlighted words as they are big pages):-

Unique Consignment Reference
http://64.233.183.104/search?q=cach...=document+UCR+number&hl=en&ct=clnk&cd=2&gl=uk
Trade and Industry Department Note for Note for Traders Lodging Certificate of Hong Kong Origin - Mainland and Hong Kong Closer Economic Partnership Arrangement (CO(CEPA)) Applications

 

[LEWIS]

Hi

If you are classed as a subcontractor you will need to contact either your accountant or the inland revenue and ask for your tax ref as a subby.

When you invoice the builder he will take 20% off the invoice for tax, excluding VAT or 30% with a unique tax ref. This tax will come of your end of year company tax so it all balances out - kind of.

The trick is to break down your invoice ie; labour @ £???????
adhesive @ £???????
grout @ £?????????
etc, etc as he can only take 20% tax on the labour part of your invoice.

I have been working this way with main contractors for some time and have found it OK once everything was inplace, its worth spending time to get yourself organised.

Good look
Phil:wink_smile:

 

[Dan]

Did I get the right links for the UCR number then or what? That was a totally random search.

 

[LEWIS]

Sorry Dan but no, your search however was based on UCR. Gentleman Jim is actually referring to UTR - unique tax reference for Subcontractors.

Let me know if i can help further.

Regards
Phil - Elliot Lewis Tiling