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1 hour ago, monkeybusiness said:

CIS is fine, it only contributes to what you will ultimately pay anyway (and can lead to a rebate if the accounts work in your favour). Just make sure you get the CIS statements from your employer - they are essentially your 20%!!! Don’t let them fall behind with these, it’s your dosh you’ve already earned!

Second that. I know a few lads that didn't know how it worked, got stiffed and had to pay the tax man. In other words their employer took 20% but didn't give it to the tax man.

 

It is for labour only so if you can word your invoice that labor is a small part of your costs then you can keep more of the money in your bank for longer.

 

 

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Never understood this, seen it on here a few times.
Why would anyone pay u 20% more to cover something ur going to pay anyway??
It's not an extra cost to u. Just paying it in installments in advance.
Once u get used to it not really a bad way of working, saves u needing to find money just after Christmas and just when u want to go on holidays.
 
I was on it for years pipeline fencing, years ago when it 1st came out.
Really not a problem and if u work in the construction industry will probably open up more doors for u if u need it.
But u don't need to use it if u don't need to either.
When it 1st came out it was also meant to stop folk working/subbing to the same employer for long periods when really should be on the books.
Or atleast make it easier for them to check, dunno if much came about it. But his FT SE boys used to get paid of the farm sometimes too so it looked like a different employer.
But that was years ago

It was a joke.🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️
Did you not read my second reply?

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I did some Cis a couple of years back,
Never heard of it before and thought someone was trying it on.
But it was all legit and keeps the taxman happy.


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I'd be in there getting trench boxes in and laying the deep drainage, not something I'd relish, but I'm sure things will get tough in short time.

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2 hours ago, eggsarascal said:

I'd be in there getting trench boxes in and laying the deep drainage, not something I'd relish, but I'm sure things will get tough in short time.

£1000 a week on a plate sounds good to me - no fannying around with customers etc. If it’s a proper firm it’s a no-brainer surely?! 

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12 minutes ago, monkeybusiness said:

£1000 a week on a plate sounds good to me - no fannying around with customers etc. If it’s a proper firm it’s a no-brainer surely?! 

Yep, if it comes off it'll be big girls pants on, and crack on.

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5 hours ago, eggsarascal said:

Yep, if it comes off it'll be big girls pants on, and crack on.

Girls pants ? You wear them eggs ? Suit you in red maybe 🤣

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15 hours ago, Rough Hewn said:

Add 20% to your price
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Dont forget most  subbies are paying 20% instead of 0% as they cant be trusted to pay their tax in full and on time by the gov.

 

 

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11 hours ago, Mesterh said:

Second that. I know a few lads that didn't know how it worked, got stiffed and had to pay the tax man. In other words their employer took 20% but didn't give it to the tax man.

 

It is for labour only so if you can word your invoice that labor is a small part of your costs then you can keep more of the money in your bank for longer.

 

 

 

Cant apply CIS on materials, would expect a full VAT invoice for any mats charged for so it can be reclaimed. Fiddling the VAT man to save yourself a few quid in tax is not a very wise idea. One phone call from the main contractor and your in a world of trouble.

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On 17/10/2020 at 22:03, eggsarascal said:

I'd be in there getting trench boxes in and laying the deep drainage, not something I'd relish, but I'm sure things will get tough in short time.

Yep me and me missus reckon the same so we are banking dollar as quickly as we can just in case.  She got Furloughed but quickly decided not to rest on her laurels and got anudder job within 10 days as she was concerned about mass unemployment and the associated misery.  I think ya shud play it safe and take that site job,  it may only be for 6 months or so but it'll feed yer massive belly!

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