CISR62010 - Monthly return: issue monthly return: introduction
Action guide contents
The contractor returns process is vital to the success of the Construction Industry Scheme.
Every contractor who makes payments to subcontractors in respect of construction operations must send a return with details of these to HMRC. These returns are due on a monthly basis. The return period covers an income tax month - that is, from the 6t h of one month to the 5t h of the next.
Returns will include details of all payments made in respect of construction industry operations, including:
- Payments made gross
- Payments made under deduction at the standard rate
- Payments made under deduction at the higher rate
Most returns will be automatically generated and sent out by the CIS system. But there will also be occasions when you will need to prepare and issue returns manually. The guidance that follows tells you about each situation.
The first automatically generated returns under the reformed scheme will be issued early enough to reach the contractors on or before 5t h May 2007. The first return period will be that between 6t h April 2007 and 5t h May 2007.