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 5 months, 1 week 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, a nationwide accountancy practice based in Derby. We work on behalf of a wide range of small businesses and individuals and our aim is to fulfill your accountancy needs, leaving you to focus on running your business.