Construction Industry Scheme (CIS) is a UK tax scheme administered by HM Revenue & Customs (HMRC), where contractors in the construction industry must deduct a set percentage from payments made to subcontractors and pay it to HMRC as advance tax on the subcontractors’ behalf. The scheme is designed to improve tax compliance and prevent tax evasion within the construction sector.
To learn more about CIS, check out our blog on the Academy page.
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