ContractorsA Contractor manages a team of subcontractors working within the building/construction industry. The Contractor has to deduct 20% tax from all subcontractors working within the construction industry scheme after they have been verified.
A subcontractor works within the construction industry and their work can include jobs such as labouring, decorating, restoring and making the site ready for construction and must have 20% deducted from their wages.
Only those registered with the CIS scheme (Construction Industry Service) can claim for the CIS tax refunds.
Thompson Accountancy Services can complete monthly CIS submissions to HMRC on behalf of the contractor and supply the subcontractor with their CIS monthly statement.
For subcontractors we can complete your tax return and request your tax refund from HMRC with a quick turnaround.