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CIS cards?

  • 10-02-2011 9:43pm
    #1
    Sparkpea
    Registered Users, Registered Users 2 Posts: 1,118 ✭✭✭


    In the south do you have CIS cards for self employed contracts/sub contractors? If so what way does it work and why should you have one?


Comments

  • #2
    Alex M
    Closed Accounts Posts: 53 ✭✭Alex M


    whats a CIS ?


  • #3
    Sparkpea
    Registered Users, Registered Users 2 Posts: 1,118 ✭✭✭Sparkpea


    construction industry scheme

    basically if ur working for a builder and quote £1k they will only pay u £800, and they pay you're £200 tax on it or whatever - something like that anyway, trying to find out if I need one to go self employed or if its an optional thing.


  • #4
    Buford T Justice
    Registered Users, Registered Users 2 Posts: 6,262 ✭✭✭Buford T Justice


    I think is C2 down here.

    If you are not C2 Registered then same thing applies, the retention as a subcontractor is quite high.

    http://www.boards.ie/vbulletin/showthread.php?t=288841


  • #5
    kscobie
    Registered Users, Registered Users 2 Posts: 257 ✭✭kscobie


    Yeah, a C2 is one option, and a C45 ( i think ) is where the main contractor holds back and pays the taxman 40% i think, all of which you can get back or offset against your tax liability


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