Questions and Answers
Registering for Self Employment and CIS
My work in the building industry involves a mixture of short periods of work for an employer under Pay As You Earn and periods of self-employment within the same year. Is it necessary for me to register for self employment on a contract by contract basis?
You will initially have to become registered for Self-Employment using form CWF1. HMRC will then open a self assessment taxpayers record for you and issue a 10 digit Unique Taxpayer Reference (UTR) .
You also need to register as a subcontractor for CIS (Construction Industry Scheme). From April 2007 there will be no registration cards issued. Instead you now have to register with the CIS helpline (call 0845 3667899) who will verify you on their records, and contractors who you work for will use the UTR number to verify you for the 20% deduction rate. If you fail to register for CIS, you will suffer 30% tax deductions from contractors.
There will be no need for you to re-register on a future occasion unless you notify HMRC that you have ceased self-employment on a permanent basis and finalised your SA affairs and now wish to re-start.
Date published 5 Dec 2012
This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.Choose the right accounting firm for you
Running your own business can be challenging so why not let TaxAssist Accountants manage your tax, accounting, bookkeeping and payroll needs? If you are not receiving the service you deserve from your accountant, then perhaps it’s time to make the switch?
Local business focus
We specialise in supporting independent businesses and work with 100,000 clients. Each TaxAssist Accountant runs their own business, and are passionate about supporting you.
Come and meet us
We enjoy talking to business owners and self-employed professionals who are looking to get the most out of their accountant. You can visit us at any of our 409 locations, meet with us online through video call software, or talk to us by telephone.
Switching is simple
Changing accountants is easier than you might think. There are no tax implications and you can switch at any time in the year and our team will guide you through the process for a smooth transition.