What do we do?
- Bishopsgate Construction Services provides subcontracted construction services across the UK, with compliance, health and safety and customer service at the heart of what we do.
- By using Bishopsgate for your construction project, you won’t need to engage subcontractors directly: we will complete the project and engage subcontractors as necessary.
- Bishopsgate Contracting Services is regularly audited by its specialist compliance advisors, HQ35, and has attained the highest level of compliance. HQ35 is delighted to endorse Bishopsgate Contracting Services against employment taxes levied should HMRC successfully challenge the employment status of the subcontractors.
- This endorsement means all our clients are entirely insulated from any tax liability that comes with engaging a self-employed workforce. Our experienced team guide contractors through their options in an honest and transparent manner, helping them to understand how we can meet their contracting needs.
- Bishopsgate have extensive experience working within the construction industry engaging subcontractors throughout the UK with compliance and customer service at the heart of everything we do.
- As we are engaging the subcontractors, you don’t need to worry about HMRC employment status challenges or employment tribunal claims. Plus, you will just need to make one payment to us which operates within Domestic Reverse Charge VAT, greatly reducing your admin burden whilst enhancing cash flow.
The Construction Industry Scheme (CIS) is a tax law that HMRC set up to pay subcontractors in the construction industry.
Tax is deducted at either a higher (30%), net (20%) or gross level depending on the status of the subcontractor’s UTR number.
CIS tax deduction rates are as follows:
- ‘Net’ deduction (20%)
A flat rate of 20% is the standard deduction for subcontractors who have registered their UTR number under the CIS.
- Higher deduction (30%)
Deductions at the higher rate of 30% may be taken if the UTR number you’ve provided to the contractor is either incorrect or has not been registered. If you are having problems with your UTR number being verified by contractors, you should contact the CIS office for assistance.
- Gross payment (0%)
If you have been granted gross payment status by HMRC there will be no deductions made on your payment.