Insurance offer for CIS contractorsPublished on: 28th September 2015
For many contractors in the construction industry CIS was always their preferred method of providing their services. However since changes to legislation by HMRC regarding false self-employment many contractors and agencies have felt that CIS is no longer a viable option.
At Exchequer Solutions we have always continued to offer CIS for contractors as it remains a legitimate option for those working in the construction sector who are not subject to supervision, direction and control. However we are aware that there are many individuals who feel that CIS is the correct route for them but have understandably been directed to other payment options because of the risk of ramifications.
We are now pleased to be able to utilise an insurance policy to cover against losses, fees and penalties as result of a Section 44 or Status enquiry, this should make CIS an attractive option once again for contractors who are self-employed and meet the right criteria.
The policy will of course only be available in cases where contracts have been vetted and approved by our advisors. Contractors wishing to provide their services on a self-employed basis will need to complete our CIS questionnaire in order to have their status approved. Once the relevant criteria have been met we hope that this will enable many individuals to choose their preferred method of providing services and will offer complete peace of mind to them and their recruitment agency.
If you have any question or would like further information please call us on 01244 500195.