Construction Industry Scheme
- Construction Industry Scheme
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Construction Industry Scheme (CIS)
England, Wales
The Construction Industry Scheme is a special tax deduction scheme, which sets out a framework for deducting tax at source from certain payments relating to construction work. It is designed to counter the black economy that is perceived to exist in the construction industry and its poor record of tax compliance. Where tax is to be deducted, it is deducted at source by the person making the payments (the contractor) at one of two specified rates depending on whether the recipient (the sub-contractor) is registered. In some cases, payments can be made without deduction of any tax at all.
For an overview of the scheme, see Practice note, overview: Construction Industry Scheme (www.practicallaw.com/8-383-4754) and Practice note, CIS gross payment status: what to do if you lose it (www.practicallaw.com/3-386-4282).
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
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