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How to Register a Company for CIS with HMRC

If you’re a subcontractor or contractor looking to register your company with HM Revenue and Customs (HMRC) for CIS, you’ve come to the right place. If you’re ready to dive into the world of construction and take advantage of the benefits offered by the Construction Industry Scheme (CIS), stay put. In this guide, we’ll walk you through the registration process step by step, making sure you have all the information you need to get started smoothly.

Getting to grips with CIS registration

Before we jump into the registration process, let’s make sure you have all the necessary information. As a subcontractor, you’ll need your legal business name, Unique Taxpayer Reference (UTR), VAT registration number (if applicable), and the date you started trading. Plus, depending on your circumstances, you may also need to provide your National Insurance number, Company Registration Number, or details of any registering partners.

If you’re both a subcontractor and a CIS contractor, responsible for paying subcontractors to do construction work, you’ll need to register for CIS as both. It’s important that all information provided during registration is accurate to avoid fines for false registration.

Registering online

The online registration process through HMRC’s website is not only the fastest but also the most convenient way to get started with CIS. All you need is your UTR and a Government Gateway user ID and password. If you don’t have a UTR yet, you can still register by signing up as a new business for Self Assessment and saying that you’ll be “working as a subcontractor”. 

This dual registration will cover both Self Assessment and CIS at the same time, making the process simpler for you. Don’t worry if you haven’t got a Government Gateway user ID; you can easily create one when registering. 

Registering by post

If online registration doesn’t suit your preferences or circumstances, HMRC also has an option to register by post. You just need to fill out the correct form based on your business structure –  a sole trader, part of a partnership, or operating as a limited company – and send it to the designated address provided by HMRC.

While this method may take longer than registering online, it is a good option for those who prefer or require it. HMRC has made the process as straightforward as possible to accommodate various registration preferences.

International registration

Even if your company is based abroad, and you’re doing construction work here in the UK, you still need to be registered for CIS. The process is similar to that which local companies go through. It’s all about ensuring everyone plays by the same tax rules and regulations, no matter where they’re from. So, if you’re getting your hands dirty in the UK construction scene, make sure you’re set up with CIS registration.

Help along the way

If you’re feeling overwhelmed, help is just a phone call away. If you have questions or concerns about CIS registration, HMRC’s helplines will guide you through anything you’re unsure of. If you prefer to learn in your own time HMRC offers webinars, emails, and informative videos on CIS registration. 

What’s more, HMRC’s website provides many resources, including guides, FAQs, and articles to support your understanding. Whether you’re a visual learner or prefer written materials, HMRC has tailored resources to suit different learning styles. Take advantage of these tools to boost your confidence and make sure the registration process is as straightforward as possible.

Stay informed and stay ahead

As you begin your journey with CIS registration, remember that staying informed is key. Keep up-to-date with the latest regulations to make sure you comply with HMRC requirements. Signing up for webinars and emails will keep you in the loop about any changes in the CIS landscape, giving you the confidence to navigate the registration process with ease. 

Plus, joining industry forums or networking groups can offer valuable insights from professionals who have experienced similar processes. Engage with peers to gain tips and advice, making it easier to overcome any challenges that come your way. With a wealth of knowledge and support available, you’re not alone on this journey towards successful CIS registration and thriving in the construction industry.

Get expert advice today

If you’re ready to sort your CIS registration,  contact us today at 01603 630882 to speak with our industry experts. Whether you’re a subcontractor or contractor, we’re here to help you through the process and ensure you adhere to HMRC regulations. If you prefer, you can fill out our contact form, and we’ll come back to you with personalised help tailored to your needs. Get in touch today to avoid missing out on the benefits of CIS.

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VAT Turns 50: Our Review of the Highs and Lows of This Tax in its 50th Year

As the UK’s VAT turns 50, as accountants, we review the highs and lows of this tax in its 50th year.

Value Added Tax (VAT) was introduced in the UK on 1 April 1973 to replace the old purchase tax. It is a consumption tax charged on the sale of goods and services. Over the last half a century, we’ve seen the welcome highs and horrible lows of VAT. So, here are our observations.

VAT highs

You might think that there haven’t been many highs for VAT over the last 50 years but:

  • VAT’s been a very successful tax for the UK government. It’s relatively easy to collect and generates a significant amount of revenue.
  • It’s helped simplify the UK’s tax system. By replacing several other taxes, it’s easier for businesses to calculate and pay their taxes.
  • VAT helped promote cross-border trade. Applying the same tax rate to goods and services sold in different countries makes it easier for businesses to trade internationally.

VAT lows

As you’d expects there is a list of lows when it comes to the impact of VAT, such as:

  • VAT can be a complex tax for businesses to comply with. As we’re sure you already know, there are several different rules and regulations that you need to know about and it can be tricky to keep up with changes to the law.
  • It’s a pain for consumers’ pockets. Added VAT on goods and services makes them more expensive, which means they may be more reluctant to spend.

Looking to the future

As we look to the future, VAT will continue to be an important source of revenue for the UK government. However, it’s also likely that the tax will continue to evolve with changes to VAT rates or new rules and regulations.

The UK may adopt a different approach to VAT in the future, for example, moving to a single rate of VAT or adopting a destination-based taxation system.

Only time will tell what the future holds for VAT. However, one thing is for sure, VAT will continue to be a major factor in the UK tax system for many years to come. As accountants, we closely monitor VAT developments and are here to help you understand, and comply with the latest VAT rules and regulations. Get in touch if you’ve got any VAT-related questions.