Construction Industry Scheme – All the important know hows
The construction industry scheme is framework set out by HMRC and only applies to construction operations. The purpose of this framework is for contractors to deduct money from sub-contractors and pass the payments on to HMRC. So, who is a contractor and who is a subcontractor? A contractor is someone who pays subcontractors for their construction work. Usually, business developers and builders who require the aid of other skilled workers. Either this, or their business does not do construction work but they spend, on average, more than £1 million a year on construction in any 3 year period. A subcontractor, [...]







