CIS - Construction Industry Scheme
Construction Industry Scheme - commonly referred to as CIS is a system designed for persons self-employed in construction. HM Revenue & Customs conducts the registration process, and the employer should deduct the tax.
For CIS registered persons the tax rate is 20% , and 30% for nonregistered.
After April 5th of each year, every CIS registered person is required to settle with HMRC. Lack of such settlement will cause the office to impose a penalty of £ 100.
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