Limited Company CIS Subcontractor
- September 14, 2017 at 8:17 pm #174831
I’m currently a sub contractor under the CIS (construction industry scheme). I’m registered as a sole trader and pay my 20% tax through the CIS scheme.
I’m currently in the process of starting up my own business and am looking to register a limited company. I’m doing this as I have secured a couple of big clients with big Future contracts coming up.
My problem is that while I set up the business and undertake the 1st couple of smaller contracts I would still like to subcontract for the company I am at the moment.
Am I able to subcontract under my own name through the CIS scheme while having a Limited company on the side? Or does everything I do no have to go through
The limited company. I do not want my current contractor to know I’m starting a limited company on the side.
Thanks in advance for any advice you can offer.
Kind regards, Chris.
December 5, 2017 at 3:51 pm #175732
- This topic was modified 2 months, 4 weeks ago by Chris2858.
The simple answer is, yes.
You can be a contractor and a sub-contractor at the same time.
Talk to your accountant, who should explain the process to you.
I am the owner of Accountspoint, an accountancy practice based in Derby and provide our services to many businesses throughout the UK. We work on behalf of many small businesses and individuals and our aim is a simple one, to fulfill your accountancy needs, leaving you to focus on running your business.