Construction Industry Scheme (CIS)
An HMRC scheme requiring certain contractors in construction to deduct tax from payments to subcontractors and report those deductions.
Also known as: CIS
Related terms
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HMRC business debt
Tax or other amounts owed by a business to HMRC, such as VAT, PAYE, CIS deductions or Corporation Tax.
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Self Assessment
The HMRC system used by individuals and certain others to report income, calculate tax and pay liabilities not fully collected at source.
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Value Added Tax (VAT)
A tax charged on many goods and services, collected by VAT-registered businesses and paid to HMRC after allowable deductions.
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