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Tax advice


(darlic) #1

Do i need to register for cis,i am only going to be doing private houses,i thought i would just need to register as self employed with the inland revenue,is there advantages for having cis.Thanks guys :smiley:


(Russ Pike) #2

If your only working on private residences you will not require to be registered with CIS, providing you have registered as self employed and have your 10 digit UTR No: Unique Tax Reference No and a least a million quid in Public Liability, then your up and running. CIS only applies if your going to sub contract and if you decide to go down that route anytime you will require to be registered otherwise the contractor will deduct 30% of your earnings at source, if your registered its only 20% at source.

http://www.hmrc.gov.uk/cis/intro/decide-if-cis.htm

You will also need to do a CSCS Health & Safety test to apply for a card which takes about 45 mins, This will only give you the basic card but if you have NVQs you can apply for the skilled operative card which will show what qualifications you have on the back:

Hope this helps answer your question